MetLife Investment Management LLC Boosts Stake in Kite Realty Group Trust $KRG

Key Points

• MetLife Investment Management LLC increased its stake in Kite Realty Group Trust by 169.6%, acquiring an additional 436,087 shares during the first quarter, bringing its total ownership to 693,190 shares worth $15.5 million.
• Shares of Kite Realty Group Trust were opened at $22.39 and have a 52-week range between $18.51 and $28.24, with an average target price of $27.11 as per analyst ratings.
• The company announced a quarterly dividend of $0.27 set to be paid on October 16, reflecting an annualized yield of 4.8% and a dividend payout ratio of 136.71%.

MetLife Investment Management LLC increased its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 169.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 693,190 shares of the real estate investment trust's stock after purchasing an additional 436,087 shares during the period. MetLife Investment Management LLC owned 0.32% of Kite Realty Group Trust worth $15,507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of KRG. Centersquare Investment Management LLC raised its position in shares of Kite Realty Group Trust by 133.6% during the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock worth $133,327,000 after purchasing an additional 3,408,442 shares during the last quarter. Nuveen LLC acquired a new stake in Kite Realty Group Trust in the 1st quarter valued at about $70,071,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Kite Realty Group Trust by 332.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock valued at $33,776,000 after acquiring an additional 1,160,694 shares during the last quarter. Deutsche Bank AG raised its holdings in Kite Realty Group Trust by 232.4% in the 4th quarter. Deutsche Bank AG now owns 1,048,441 shares of the real estate investment trust's stock valued at $26,463,000 after acquiring an additional 733,015 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Kite Realty Group Trust by 17.1% in the 4th quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust's stock valued at $98,074,000 after acquiring an additional 567,284 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Trading Down 0.4%

Shares of NYSE KRG traded down $0.09 during midday trading on Thursday, reaching $22.61. 1,577,092 shares of the stock were exchanged, compared to its average volume of 1,713,379. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $4.97 billion, a P/E ratio of 28.62, a PEG ratio of 6.29 and a beta of 1.16. The company has a 50 day simple moving average of $22.33 and a 200 day simple moving average of $22.16. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting analysts' consensus estimates of $0.51. The firm had revenue of $211.18 million during the quarter, compared to analysts' expectations of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, equities analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.8%. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 136.71%.

Analysts Set New Price Targets

KRG has been the subject of a number of recent research reports. Piper Sandler reiterated a "neutral" rating and issued a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. UBS Group initiated coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Raymond James Financial cut their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.00.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust NYSE: KRG is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company's primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.