Lasalle Investment Management Securities LLC Increases Position in Kite Realty Group Trust $KRG

Key Points

• Lasalle Investment Management Securities LLC boosted its stake in Kite Realty Group Trust by 9.4% in Q4, and now owns about 3.08 million shares worth roughly $73.8 million.
• Institutional interest in KRG remains strong, with hedge funds and other investors owning 90.81% of the company’s stock; several firms, including Norges Bank and M&T Bank Corp, also added or initiated positions.
• Analyst sentiment is mixed but generally cautious: the stock carries a Hold consensus rating with an average price target of $27, while Kite Realty also declared a quarterly dividend of $0.29 per share for a 4.2% annual yield.

Lasalle Investment Management Securities LLC increased its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,080,378 shares of the real estate investment trust's stock after purchasing an additional 265,188 shares during the quarter. Kite Realty Group Trust accounts for 3.0% of Lasalle Investment Management Securities LLC's investment portfolio, making the stock its 15th largest position. Lasalle Investment Management Securities LLC owned approximately 1.42% of Kite Realty Group Trust worth $73,837,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in KRG. Norges Bank purchased a new position in shares of Kite Realty Group Trust in the 4th quarter valued at about $61,863,000. Sei Investments Co. increased its holdings in shares of Kite Realty Group Trust by 171.0% in the 2nd quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust's stock valued at $38,756,000 after purchasing an additional 1,079,727 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Kite Realty Group Trust by 6,888.0% in the 4th quarter. M&T Bank Corp now owns 971,265 shares of the real estate investment trust's stock valued at $23,281,000 after purchasing an additional 957,366 shares in the last quarter. Freestone Grove Partners LP increased its holdings in shares of Kite Realty Group Trust by 4,702.9% in the 3rd quarter. Freestone Grove Partners LP now owns 953,901 shares of the real estate investment trust's stock valued at $21,272,000 after purchasing an additional 934,040 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Kite Realty Group Trust in the 3rd quarter valued at about $17,970,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KRG shares. Robert W. Baird increased their price target on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, February 18th. Citigroup reiterated a "neutral" rating and issued a $27.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Wells Fargo & Company reissued an "overweight" rating and issued a $29.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a research note on Tuesday, May 26th. Wall Street Zen cut shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Finally, UBS Group reissued a "neutral" rating and issued a $28.00 price objective (up from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of "Hold" and an average target price of $27.00.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $27.39 on Monday. Kite Realty Group Trust has a fifty-two week low of $20.86 and a fifty-two week high of $27.58. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 4.24 and a beta of 0.86. The business has a fifty day moving average of $25.84 and a 200-day moving average of $24.65. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

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

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, July 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 87.22%.

Kite Realty Group Trust Company 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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