Bank of New York Mellon Corp Has $41.03 Million Holdings in Kite Realty Group Trust $KRG

Bank of New York Mellon Corp cut its position in shares of Kite Realty Group Trust (NYSE:KRG) by 1.1% in the first quarter, Holdings Channel reports. The firm owned 1,671,110 shares of the real estate investment trust’s stock after selling 17,945 shares during the period. Bank of New York Mellon Corp’s holdings in Kite Realty Group Trust were worth $41,026,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Arax Advisory Partners lifted its position in shares of Kite Realty Group Trust by 182.0% in the fourth quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 726 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 740 shares in the last quarter. First Horizon Corp lifted its holdings in Kite Realty Group Trust by 56.5% in the 4th quarter. First Horizon Corp now owns 2,100 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 758 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Kite Realty Group Trust in the 3rd quarter worth approximately $49,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $29.29 on Friday. 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 has a fifty-two week low of $20.86 and a fifty-two week high of $29.92. The firm has a fifty day moving average price of $28.22 and a two-hundred day moving average price of $26.16. The company has a market cap of $5.95 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 4.13 and a beta of 0.85.

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

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Thursday, July 9th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.0%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 87.22%.

Analysts Set New Price Targets

KRG has been the topic of several analyst reports. Wells Fargo & Company set a $32.00 price target on Kite Realty Group Trust and gave the company an “overweight” rating in a report on Thursday. Jefferies Financial Group upgraded shares of Kite Realty Group Trust to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Kite Realty Group Trust in a research report on Wednesday, July 15th. LADENBURG THALM/SH SH raised their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $33.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.43.

About Kite Realty Group Trust

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.