Bank of Montreal Can Acquires 40,485 Shares of Kite Realty Group Trust $KRG

Bank of Montreal Can lifted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 63.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 104,450 shares of the real estate investment trust’s stock after acquiring an additional 40,485 shares during the period. Bank of Montreal Can’s holdings in Kite Realty Group Trust were worth $2,366,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Louisiana State Employees Retirement System boosted its stake in Kite Realty Group Trust by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust’s stock valued at $1,376,000 after acquiring an additional 500 shares during the last quarter. Truist Financial Corp boosted its position in shares of Kite Realty Group Trust by 5.3% in the 2nd quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 503 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Kite Realty Group Trust by 1.2% during the first quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust’s stock worth $1,177,000 after purchasing an additional 600 shares during the period. State of Alaska Department of Revenue increased its holdings in Kite Realty Group Trust by 0.5% in the second quarter. State of Alaska Department of Revenue now owns 131,664 shares of the real estate investment trust’s stock valued at $2,981,000 after purchasing an additional 641 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in Kite Realty Group Trust by 3.1% in the second quarter. Verdence Capital Advisors LLC now owns 22,302 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 661 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 0.5%

KRG opened at $22.65 on Thursday. The stock has a market capitalization of $4.90 billion, a P/E ratio of 35.38, a P/E/G ratio of 6.16 and a beta of 1.13. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The firm’s fifty day simple moving average is $22.34 and its 200 day simple moving average is $22.33.

Kite Realty Group Trust (NYSE:KRG) last released 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. The firm had revenue of $205.06 million for the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust had a return on equity of 4.23% and a net margin of 16.34%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. As a group, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.16 dividend on an annualized basis and a yield of 5.1%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s payout ratio is 181.25%.

Analyst Ratings Changes

A number of brokerages have issued reports on KRG. Raymond James Financial cut Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. Piper Sandler reissued a “neutral” rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Citigroup restated a “neutral” rating and set a $24.00 price objective (down previously from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Wells Fargo & Company raised shares of 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 report on Tuesday, October 21st. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.22.

Insider Buying and Selling

In other Kite Realty Group Trust 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.50% of the company’s stock.

About Kite Realty Group Trust

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.