Handelsbanken Fonder AB Has $1.46 Million Stock Holdings in Kite Realty Group Trust $KRG

Handelsbanken Fonder AB lowered its position in shares of Kite Realty Group Trust (NYSE:KRG) by 5.6% in the second quarter, HoldingsChannel reports. The firm owned 64,533 shares of the real estate investment trust’s stock after selling 3,800 shares during the period. Handelsbanken Fonder AB’s holdings in Kite Realty Group Trust were worth $1,462,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Kite Realty Group Trust in the first quarter valued at approximately $1,174,000. Fifth Third Bancorp grew its position in Kite Realty Group Trust by 46.2% during the 2nd quarter. Fifth Third Bancorp now owns 24,330 shares of the real estate investment trust’s stock worth $551,000 after acquiring an additional 7,686 shares during the last quarter. Nuveen LLC acquired a new stake in Kite Realty Group Trust during the 1st quarter valued at $70,071,000. Cetera Investment Advisers raised its position in Kite Realty Group Trust by 129.2% in the 1st quarter. Cetera Investment Advisers now owns 44,414 shares of the real estate investment trust’s stock valued at $994,000 after purchasing an additional 25,040 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Kite Realty Group Trust by 299.7% in the 1st quarter. Russell Investments Group Ltd. now owns 440,654 shares of the real estate investment trust’s stock valued at $9,857,000 after purchasing an additional 330,403 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. 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. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price target on the stock. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Finally, Citigroup reiterated a “neutral” rating and set a $24.00 target price (down from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and a consensus target price of $25.88.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $23.09 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. The stock has a market capitalization of $5.00 billion, a P/E ratio of 36.08, a P/E/G ratio of 6.16 and a beta of 1.13. The business has a 50-day moving average price of $22.31 and a two-hundred day moving average price of $22.36.

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

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s dividend payout ratio is presently 181.25%.

Insider Buying and Selling at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total value of $1,135,000.00. Following the transaction, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by company 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.