Thrivent Financial for Lutherans Sells 93,050 Shares of Kite Realty Group Trust $KRG

Thrivent Financial for Lutherans reduced its position in shares of Kite Realty Group Trust (NYSE:KRG) by 46.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,172 shares of the real estate investment trust’s stock after selling 93,050 shares during the period. Thrivent Financial for Lutherans’ holdings in Kite Realty Group Trust were worth $2,405,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Kite Realty Group Trust during the 2nd quarter worth $65,504,000. JPMorgan Chase & Co. grew its stake in shares of Kite Realty Group Trust by 11.2% in the second quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock valued at $281,229,000 after acquiring an additional 1,250,549 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Kite Realty Group Trust during the first quarter worth about $24,727,000. Sei Investments Co. raised its stake in Kite Realty Group Trust by 171.0% in the 2nd quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock worth $38,756,000 after purchasing an additional 1,079,727 shares in the last quarter. Finally, Strs Ohio bought a new stake in Kite Realty Group Trust in the 1st quarter valued at about $20,517,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KRG. Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday. 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. LADENBURG THALM/SH SH began coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Wells Fargo & Company raised Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.50.

Kite Realty Group Trust Stock Down 0.6%

NYSE KRG opened at $23.76 on Wednesday. The business has a fifty day moving average price of $22.72 and a two-hundred day moving average price of $22.48. 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 has a fifty-two week low of $18.51 and a fifty-two week high of $25.40. The stock has a market capitalization of $5.14 billion, a PE ratio of 37.12, a PEG ratio of 6.03 and a beta of 0.90.

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 (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a return on equity of 4.27% and a net margin of 16.34%.The company had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Equities analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal 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 paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 4.9%. Kite Realty Group Trust’s payout ratio is presently 168.75%.

Kite Realty Group Trust Profile

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.