Strs Ohio Sells 350,700 Shares of Kite Realty Group Trust $KRG

Key Points

• Strs Ohio cut its stake in Kite Realty Group Trust by 45.7% in the first quarter, selling 350,700 shares and ending with 416,058 shares valued at about $10.2 million.
• Wall Street sentiment is mixed but mostly cautious, with three analysts rating KRG a Buy and six a Hold; the consensus rating is Hold with an average price target of $27.43.
• Kite Realty reported modest earnings and continued paying a dividend: quarterly EPS of $0.06 missed expectations, while revenue came in slightly above estimates, and the company declared a $0.29 quarterly dividend yielding about 4.0%.

Strs Ohio trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 45.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 416,058 shares of the real estate investment trust's stock after selling 350,700 shares during the quarter. Strs Ohio owned 0.20% of Kite Realty Group Trust worth $10,214,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Kite Realty Group Trust by 32.2% in the 1st quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust's stock worth $1,797,000 after buying an additional 19,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Kite Realty Group Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust's stock valued at $2,893,000 after acquiring an additional 5,666 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 740 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Kite Realty Group Trust by 14.5% during the 2nd quarter. California Public Employees Retirement System now owns 385,476 shares of the real estate investment trust's stock worth $8,731,000 after purchasing an additional 48,935 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Kite Realty Group Trust by 3.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 77,577 shares of the real estate investment trust's stock worth $1,757,000 after purchasing an additional 2,386 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KRG shares. Wells Fargo & Company reaffirmed an "overweight" rating and set a $29.00 price target (up from $28.00) on shares of Kite Realty Group Trust in a research report on Tuesday, May 26th. Wall Street Zen lowered Kite Realty Group Trust from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Jefferies Financial Group upgraded Kite Realty Group Trust to a "hold" rating in a research note on Friday, June 26th. LADENBURG THALM/SH SH upped their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $28.00 price objective (up from $25.00) on shares of Kite Realty Group Trust in a report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $27.43.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $28.64 on Monday. Kite Realty Group Trust has a 12 month low of $20.86 and a 12 month high of $29.40. 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 cap of $5.82 billion, a P/E ratio of 21.54, a P/E/G ratio of 4.05 and a beta of 0.85. The company has a 50 day moving average of $27.44 and a 200 day moving average of $25.64.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $200.70 million during the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, sell-side analysts forecast that Kite Realty Group Trust will post 2.09 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.0%. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 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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