Greenland Capital Management LP Makes New $3.11 Million Investment in Kite Realty Group Trust $KRG

Greenland Capital Management LP acquired a new stake in Kite Realty Group Trust (NYSE:KRG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 137,392 shares of the real estate investment trust’s stock, valued at approximately $3,112,000. Greenland Capital Management LP owned approximately 0.06% of Kite Realty Group Trust at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in Kite Realty Group Trust by 2.3% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 311,260 shares of the real estate investment trust’s stock worth $7,050,000 after buying an additional 6,970 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Kite Realty Group Trust by 50.3% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 374,671 shares of the real estate investment trust’s stock valued at $8,486,000 after purchasing an additional 125,461 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Kite Realty Group Trust by 40.6% during the second quarter. Ontario Teachers Pension Plan Board now owns 42,451 shares of the real estate investment trust’s stock worth $962,000 after purchasing an additional 12,260 shares in the last quarter. Creative Planning lifted its position in shares of Kite Realty Group Trust by 39.1% during the 2nd quarter. Creative Planning now owns 25,574 shares of the real estate investment trust’s stock worth $579,000 after buying an additional 7,190 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Kite Realty Group Trust by 64.0% in the 2nd quarter. SG Americas Securities LLC now owns 58,266 shares of the real estate investment trust’s stock valued at $1,320,000 after buying an additional 22,742 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insiders Place Their Bets

In related news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust 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 directly owned 54,121 shares in the company, valued at $1,228,546.70. The trade was a 48.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KRG. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $25.00 in a research note on Tuesday, October 21st. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Piper Sandler reiterated a “neutral” rating and issued a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Citigroup reiterated a “neutral” rating and set a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Hold” and a consensus price target of $25.88.

Kite Realty Group Trust Trading Up 1.1%

NYSE KRG opened at $22.24 on Wednesday. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The firm has a 50-day moving average price of $22.28 and a 200 day moving average price of $22.35. The stock has a market capitalization of $4.81 billion, a P/E ratio of 34.75, a P/E/G ratio of 6.16 and a beta of 1.13. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91.

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 for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $205.06 million for the quarter, compared to analysts’ expectations 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. Equities research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current 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 dividend of $0.29 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. Kite Realty Group Trust’s dividend payout ratio is presently 181.25%.

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.