American Century Companies Inc. Increases Stake in Kite Realty Group Trust $KRG

American Century Companies Inc. increased its stake in Kite Realty Group Trust (NYSE:KRG) by 98.5% in the second quarter, Holdings Channel reports. The firm owned 1,198,166 shares of the real estate investment trust’s stock after purchasing an additional 594,440 shares during the period. American Century Companies Inc.’s holdings in Kite Realty Group Trust were worth $27,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in shares of Kite Realty Group Trust by 2.7% in the second quarter. Rhumbline Advisers now owns 795,999 shares of the real estate investment trust’s stock worth $18,029,000 after buying an additional 21,187 shares during the last quarter. Legal & General Group Plc increased its position in shares of Kite Realty Group Trust by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 1,463,448 shares of the real estate investment trust’s stock valued at $33,147,000 after acquiring an additional 23,682 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Kite Realty Group Trust in the 2nd quarter worth $5,529,000. JPMorgan Chase & Co. lifted its position in Kite Realty Group Trust by 11.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock worth $281,229,000 after acquiring an additional 1,250,549 shares during the period. Finally, Greenland Capital Management LP purchased a new stake in Kite Realty Group Trust during the 2nd quarter valued at about $3,112,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is available through this link. 2.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler restated a “neutral” rating and issued a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Citigroup reiterated a “neutral” rating and issued a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. 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 for the company. Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Hold” and a consensus target price of $25.88.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $23.14 on Monday. The company has a market capitalization of $5.01 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 6.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The company’s fifty day moving average price is $22.35 and its 200 day moving average price is $22.36. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $27.96.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.23%. The business had revenue of $205.06 million during the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, January 9th. 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 yield of 5.0%. Kite Realty Group Trust’s dividend payout ratio is 181.25%.

Kite Realty Group Trust Profile

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.