State Street Corp Reduces Holdings in Kite Realty Group Trust $KRG

Key Points

• State Street reduced its Kite Realty Group Trust stake by 3.4%, selling 412,014 shares and retaining 11.68 million shares valued at approximately $331.4 million. Institutional investors collectively own 90.81% of KRG.
• KRG reported quarterly EPS of $0.79, surpassing the $0.11 consensus estimate, while revenue of $196.26 million was slightly below expectations. The company issued fiscal 2026 EPS guidance of $2.06–$2.12.
• The REIT declared a quarterly dividend of $0.29 per share, equivalent to a $1.16 annualized payout and a 4.7% yield. Analysts maintain a consensus “Hold” rating with a $30 average price target, compared with shares trading near $24.70.

State Street Corp lowered its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,676,756 shares of the real estate investment trust's stock after selling 412,014 shares during the period. State Street Corp owned approximately 5.83% of Kite Realty Group Trust worth $331,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KRG. Cohen & Steers Inc. grew its position in Kite Realty Group Trust by 26.3% in the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust's stock worth $630,805,000 after acquiring an additional 5,486,116 shares during the period. Centersquare Investment Management LLC grew its holdings in shares of Kite Realty Group Trust by 1.3% during the 4th quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust's stock worth $197,436,000 after purchasing an additional 105,830 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kite Realty Group Trust by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,200,466 shares of the real estate investment trust's stock worth $78,572,000 after purchasing an additional 10,289 shares during the last quarter. Lasalle Investment Management Securities LLC increased its position in shares of Kite Realty Group Trust by 9.4% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,080,378 shares of the real estate investment trust's stock worth $73,837,000 after purchasing an additional 265,188 shares during the last quarter. Finally, Norges Bank purchased a new stake in Kite Realty Group Trust in the 4th quarter valued at about $61,863,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Trading Down 1.6%

NYSE KRG opened at $24.70 on Thursday. Kite Realty Group Trust has a 52 week low of $21.33 and a 52 week high of $29.92. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $4.95 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84. The firm has a 50 day moving average of $26.90 and a two-hundred day moving average of $26.78.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.68. Kite Realty Group Trust had a return on equity of 11.26% and a net margin of 41.80%.The business had revenue of $196.26 million during the quarter, compared to analysts' expectations of $197.32 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 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 9th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, October 9th. Kite Realty Group Trust's dividend payout ratio is currently 71.60%.

Analysts Set New Price Targets

Several research analysts have weighed in on KRG shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kite Realty Group Trust in a research note on Wednesday, July 15th. Citigroup restated a "neutral" rating and issued a $31.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a report on Monday, August 3rd. UBS Group reiterated a "neutral" rating and issued a $30.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a report on Thursday, July 9th. KeyCorp cut Kite Realty Group Trust from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, August 18th. 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 research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $30.00.

About Kite Realty Group Trust

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that owns, develops, redevelops, acquires and operates open-air shopping centers in the United States. Its portfolio is primarily focused on grocery-anchored and other necessity-based retail properties, along with select mixed-use assets.

The company leases space to a variety of retailers, restaurants, service providers and other tenants. Its properties are generally located in established, high-growth communities and are designed to serve everyday consumer needs.

Want to see what other hedge funds are holding KRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Realty Group Trust (NYSE:KRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.