Allstate Corp Increases Position in Kite Realty Group Trust $KRG

Allstate Corp lifted its holdings in Kite Realty Group Trust (NYSE:KRG) by 175.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,616 shares of the real estate investment trust’s stock after purchasing an additional 26,519 shares during the period. Allstate Corp’s holdings in Kite Realty Group Trust were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Centersquare Investment Management LLC increased its stake in shares of Kite Realty Group Trust by 9.9% in the 3rd quarter. Centersquare Investment Management LLC now owns 8,130,960 shares of the real estate investment trust’s stock valued at $181,320,000 after purchasing an additional 733,378 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Kite Realty Group Trust by 6.9% in the 3rd quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust’s stock valued at $142,009,000 after purchasing an additional 411,465 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kite Realty Group Trust by 5.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,275,968 shares of the real estate investment trust’s stock valued at $73,052,000 after purchasing an additional 165,889 shares in the last quarter. Lasalle Investment Management Securities LLC increased its stake in shares of Kite Realty Group Trust by 177.3% in the 3rd quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust’s stock valued at $62,779,000 after purchasing an additional 1,799,866 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Kite Realty Group Trust by 6.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,135,421 shares of the real estate investment trust’s stock valued at $51,186,000 after purchasing an additional 124,864 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KRG shares. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Wells Fargo & Company reiterated an “overweight” rating and issued a $29.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a report on Tuesday. Weiss Ratings upgraded Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. UBS Group reiterated a “neutral” rating and issued a $28.00 price objective (up from $25.00) on shares of Kite Realty Group Trust in a report on Monday, May 18th. Finally, Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.00.

Kite Realty Group Trust Trading Down 0.4%

Shares of Kite Realty Group Trust stock opened at $27.39 on Friday. The stock has a market cap of $5.56 billion, a P/E ratio of 20.59, a P/E/G ratio of 4.24 and a beta of 0.86. The stock’s 50 day simple moving average is $25.84 and its 200-day simple moving average is $24.64. Kite Realty Group Trust has a 1-year low of $20.86 and a 1-year high of $27.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 1.06.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $200.70 million for the quarter, compared to analyst estimates of $198.37 million. Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Analysts predict that Kite Realty Group Trust will post 2.1 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Thursday, July 9th. Kite Realty Group Trust’s payout ratio is currently 87.22%.

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.