Kite Realty Group Trust $KRG Stock Position Raised by Principal Financial Group Inc.

Key Points

• Principal Financial Group boosted its stake in Kite Realty Group Trust by 52.5% in the first quarter, buying 246,285 additional shares and bringing its total holding to 715,319 shares worth about $17.6 million.
• Institutional ownership remains very high, with about 90.81% of Kite Realty Group Trust owned by hedge funds and other institutional investors. Several other firms also recently added to their positions.
• Analysts are mostly cautious on the stock: the consensus rating is Hold with an average price target of $29.00, while the shares were trading around $29.33 and recently fell 1.7%.

Principal Financial Group Inc. increased its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 52.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 715,319 shares of the real estate investment trust's stock after purchasing an additional 246,285 shares during the period. Principal Financial Group Inc. owned about 0.35% of Kite Realty Group Trust worth $17,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new stake in Kite Realty Group Trust during the 4th quarter valued at $25,000. Arax Advisory Partners boosted its position in shares of Kite Realty Group Trust by 182.0% in the fourth quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust's stock worth $27,000 after buying an additional 726 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Kite Realty Group Trust by 118.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock worth $31,000 after buying an additional 740 shares during the period. Danske Bank A S purchased a new position in shares of Kite Realty Group Trust during the third quarter valued at $49,000. Finally, First Horizon Corp grew its holdings in shares of Kite Realty Group Trust by 56.5% during the fourth quarter. First Horizon Corp now owns 2,100 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 758 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group raised Kite Realty Group Trust to a "hold" rating in a research report on Friday, June 26th. UBS Group reaffirmed a "neutral" rating and set a $30.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a research note on Thursday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Kite Realty Group Trust in a report on Wednesday, July 15th. LADENBURG THALM/SH SH increased their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Finally, Piper Sandler restated a "neutral" rating and set a $33.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $29.00.

Kite Realty Group Trust Trading Down 1.7%

Shares of NYSE KRG opened at $29.33 on Thursday. The business has a 50 day simple moving average of $28.10 and a 200 day simple moving average of $26.10. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $29.92. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 4.20 and a beta of 0.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.06 and a current ratio of 1.06.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $200.70 million for the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. On average, research analysts predict that Kite Realty Group Trust will post 2.1 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th were issued a dividend of $0.29 per share. The ex-dividend date was Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.0%. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 87.22%.

Kite Realty Group Trust Profile

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.

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