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

Key Points

• Lasalle Investment Management Securities cut its position in Kite Realty Group Trust by 23.1% in the first quarter, selling 710,524 shares and leaving it with 2.37 million shares worth about $58.2 million.
• Several analysts updated their views on KRG, with UBS and Piper Sandler raising price targets, but the overall consensus remains Hold with an average target price of $29.00.
• Kite Realty Group Trust reported Q1 EPS of $0.06, missing estimates by $0.01, while revenue came in slightly above expectations; the company also paid a quarterly dividend of $0.29, implying a 4.0% annualized yield.

Lasalle Investment Management Securities LLC decreased its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,369,854 shares of the real estate investment trust's stock after selling 710,524 shares during the quarter. Kite Realty Group Trust makes up about 2.3% of Lasalle Investment Management Securities LLC's holdings, making the stock its 17th largest position. Lasalle Investment Management Securities LLC owned 1.17% of Kite Realty Group Trust worth $58,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KRG. Arax Advisory Partners boosted its position in shares of Kite Realty Group Trust by 182.0% in the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 726 shares during the period. Los Angeles Capital Management LLC acquired a new position in Kite Realty Group Trust during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its position in Kite Realty Group Trust by 118.4% during 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. Bessemer Group Inc. lifted its stake in Kite Realty Group Trust by 44.4% in the first quarter. Bessemer Group Inc. now owns 1,519 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 467 shares during the last quarter. Finally, First Horizon Corp lifted its stake in Kite Realty Group Trust by 56.5% in 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 during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KRG shares. UBS Group restated a "neutral" rating and set a $30.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a research report on Thursday, July 9th. Piper Sandler reiterated a "neutral" rating and issued a $33.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a research report on Tuesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Kite Realty Group Trust in a research note on Wednesday, July 15th. LADENBURG THALM/SH SH raised their price objective 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, Jefferies Financial Group raised shares of Kite Realty Group Trust to a "hold" rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.00.

Kite Realty Group Trust Stock Down 1.7%

Kite Realty Group Trust stock opened at $29.33 on Thursday. Kite Realty Group Trust has a twelve month low of $20.86 and a twelve month high of $29.92. The stock has a 50 day moving average of $28.10 and a two-hundred day moving average of $26.10. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 4.20 and a beta of 0.85.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. 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, research analysts expect that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 9th. Kite Realty Group Trust's payout ratio is currently 87.22%.

About Kite Realty Group Trust

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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