Arrowstreet Capital Limited Partnership Grows Position in Kite Realty Group Trust $KRG

Arrowstreet Capital Limited Partnership increased its stake in Kite Realty Group Trust (NYSE:KRG) by 255.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 681,104 shares of the real estate investment trust’s stock after buying an additional 489,467 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Kite Realty Group Trust were worth $15,427,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund raised its holdings in Kite Realty Group Trust by 1.3% in the second quarter. New York State Common Retirement Fund now owns 109,949 shares of the real estate investment trust’s stock worth $2,490,000 after buying an additional 1,360 shares during the last quarter. Virtus Investment Advisers LLC boosted its position in shares of Kite Realty Group Trust by 26.8% during the second quarter. Virtus Investment Advisers LLC now owns 7,564 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 1,597 shares during the last quarter. Norges Bank purchased a new stake in shares of Kite Realty Group Trust during the 2nd quarter valued at about $65,504,000. Hsbc Holdings PLC grew its stake in shares of Kite Realty Group Trust by 18.1% in the second quarter. Hsbc Holdings PLC now owns 340,228 shares of the real estate investment trust’s stock worth $7,674,000 after acquiring an additional 52,190 shares during the period. Finally, Capital Fund Management S.A. bought a new position in Kite Realty Group Trust during the second quarter valued at approximately $1,882,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 2.1%

Shares of NYSE KRG opened at $22.16 on Tuesday. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $27.04. The business has a fifty day moving average price of $22.41 and a 200 day moving average price of $22.36. The stock has a market capitalization of $4.80 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 5.71 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.98.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.27%. The company had revenue of $205.06 million for 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. Equities research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 9th will be paid a $0.29 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio is presently 168.75%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KRG. LADENBURG THALM/SH SH assumed coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They set a “buy” rating and a $30.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday, December 1st. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Citigroup reissued a “neutral” rating and set a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Finally, Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of “Hold” and a consensus target price of $25.88.

Kite Realty Group Trust Company 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.