Resona Asset Management Co. Ltd. Has $2 Million Stake in Kite Realty Group Trust $KRG

Resona Asset Management Co. Ltd. reduced its position in Kite Realty Group Trust (NYSE:KRG) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,397 shares of the real estate investment trust’s stock after selling 7,018 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Kite Realty Group Trust were worth $2,004,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. M&T Bank Corp boosted its holdings in shares of Kite Realty Group Trust by 52.5% during the 1st quarter. M&T Bank Corp now owns 55,597 shares of the real estate investment trust’s stock worth $1,244,000 after buying an additional 19,132 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Kite Realty Group Trust by 516.1% in the 1st quarter. Allianz Asset Management GmbH now owns 623,772 shares of the real estate investment trust’s stock valued at $13,954,000 after acquiring an additional 522,529 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Kite Realty Group Trust during the 1st quarter valued at $1,174,000. Nuveen LLC bought a new position in Kite Realty Group Trust during the first quarter worth $70,071,000. Finally, Cetera Investment Advisers boosted its stake in Kite Realty Group Trust by 129.2% during the first quarter. Cetera Investment Advisers now owns 44,414 shares of the real estate investment trust’s stock worth $994,000 after acquiring an additional 25,040 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $22.33 on Tuesday. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average price of $22.34 and a 200-day moving average price of $22.33. The company has a market cap of $4.83 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 6.16 and a beta of 1.13.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $205.06 million during the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust had a return on equity of 4.23% and a net margin of 16.34%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Equities analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 9th will be issued a $0.29 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio is currently 181.25%.

Analysts Set New Price Targets

Several research firms have weighed in on KRG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kite Realty Group Trust in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. LADENBURG THALM/SH SH initiated coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Piper Sandler restated a “neutral” rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.70.

Insider Buying and Selling at Kite Realty Group Trust

In related news, CEO John A. Kite sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the transaction, the chief executive officer directly owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This trade represents a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by insiders.

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.