Sumitomo Mitsui Trust Group Inc. Has $44.79 Million Stock Holdings in Kite Realty Group Trust $KRG

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its stake in Kite Realty Group Trust by 14.6% in the first quarter, selling 311,160 shares and leaving it with 1,824,261 shares worth about $44.8 million.
• Wall Street analysts are mixed on KRG: the stock currently has a consensus Hold rating and an average target price of $27.71, though some firms recently raised targets and issued Buy/Overweight calls.
• Kite Realty Group Trust reported Q1 EPS of $0.06, missing estimates by a penny, and announced a quarterly dividend of $0.29 per share to be paid July 16, implying a 4.1% annualized yield.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 14.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,824,261 shares of the real estate investment trust's stock after selling 311,160 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.90% of Kite Realty Group Trust worth $44,786,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen downgraded Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. UBS Group reiterated a "neutral" rating and set a $30.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a research note on Thursday. LADENBURG THALM/SH SH boosted their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. 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 report on Tuesday, May 26th. Finally, Jefferies Financial Group raised shares of Kite Realty Group Trust to a "hold" rating in a research note on Friday, June 26th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $27.71.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $28.29 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The stock has a market cap of $5.74 billion, a PE ratio of 21.27, a P/E/G ratio of 4.00 and a beta of 0.85. Kite Realty Group Trust has a 12-month low of $20.86 and a 12-month high of $29.40. The business's 50-day moving average price is $27.68 and its two-hundred day moving average price is $25.81.

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

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th will be given a $0.29 dividend. The ex-dividend date is Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.1%. Kite Realty Group Trust's dividend payout ratio (DPR) 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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