Sumitomo Mitsui Trust Group Inc. Purchases 701,210 Shares of Kite Realty Group Trust $KRG

Sumitomo Mitsui Trust Group Inc. lifted its position in Kite Realty Group Trust (NYSE:KRG) by 53.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,010,557 shares of the real estate investment trust’s stock after purchasing an additional 701,210 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kite Realty Group Trust were worth $44,835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KRG. Harbor Capital Advisors Inc. boosted its stake in Kite Realty Group Trust by 54.8% during the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 462 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Kite Realty Group Trust during the 2nd quarter worth about $30,000. First Horizon Corp acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its stake in Kite Realty Group Trust by 118.4% in the second 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 during the period. Finally, Smallwood Wealth Investment Management LLC raised its position in Kite Realty Group Trust by 57.9% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 641 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $23.33 on Friday. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $24.54. The stock has a market capitalization of $5.05 billion, a PE ratio of 36.45, a PEG ratio of 5.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s fifty day moving average is $23.20 and its 200-day moving average is $22.62.

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 analysts’ consensus estimates 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 business had revenue of $205.06 million during the quarter, compared to analysts’ expectations of $208.82 million. 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 fiscal year.

Kite Realty Group Trust Increases Dividend

The business 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 represents a $1.16 annualized dividend and a dividend yield of 5.0%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 9th. Kite Realty Group Trust’s payout ratio is currently 181.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group reaffirmed a “neutral” rating and set a $25.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Jefferies Financial Group reiterated a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Finally, Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Kite Realty Group Trust has an average rating of “Hold” and an average target price of $25.43.

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.