Kite Realty Group Trust $KRG Position Increased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Kite Realty Group Trust by 299.7% during Q1, owning a total of 440,654 shares worth approximately $9.9 million.
• Kite Realty Group Trust announced a quarterly dividend of $0.27 payable on October 16th, which represents an annual yield of 5.0%.
• Several analysts have provided mixed ratings for Kite Realty Group Trust, with a consensus price target around $27.11 and most analysts currently rating the stock as a "Hold."

Russell Investments Group Ltd. raised its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 299.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 440,654 shares of the real estate investment trust's stock after purchasing an additional 330,403 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of Kite Realty Group Trust worth $9,857,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Resona Asset Management Co. Ltd. boosted its holdings in shares of Kite Realty Group Trust by 8.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 95,415 shares of the real estate investment trust's stock valued at $2,126,000 after purchasing an additional 7,654 shares during the last quarter. Nuveen LLC acquired a new position in shares of Kite Realty Group Trust in the 1st quarter valued at $70,071,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Kite Realty Group Trust by 4.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,732 shares of the real estate investment trust's stock valued at $3,372,000 after purchasing an additional 6,859 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Kite Realty Group Trust by 133.6% in the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock valued at $133,327,000 after purchasing an additional 3,408,442 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Kite Realty Group Trust by 2.1% in the 1st quarter. LSV Asset Management now owns 997,600 shares of the real estate investment trust's stock valued at $22,316,000 after purchasing an additional 20,100 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KRG shares. Wall Street Zen lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Piper Sandler restated a "neutral" rating and set a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. UBS Group began coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price on the stock. Finally, Raymond James Financial dropped their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of "Hold" and an average price target of $27.11.

Kite Realty Group Trust Stock Up 4.1%

NYSE:KRG traded up $0.8940 during mid-day trading on Friday, reaching $22.7640. The stock had a trading volume of 1,708,698 shares, compared to its average volume of 1,791,769. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 6.30 and a beta of 1.16. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. The stock's 50 day simple moving average is $22.33 and its two-hundred day simple moving average is $22.17. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70.

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

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 136.71%.

About Kite Realty Group Trust

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.