Renaissance Technologies LLC Takes $1.78 Million Position in Kite Realty Group Trust $KRG

Renaissance Technologies LLC bought a new position in Kite Realty Group Trust (NYSE:KRG) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 72,703 shares of the real estate investment trust’s stock, valued at approximately $1,785,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cohen & Steers Inc. lifted its holdings in Kite Realty Group Trust by 26.3% in the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock valued at $630,805,000 after acquiring an additional 5,486,116 shares during the period. Norges Bank acquired a new stake in shares of Kite Realty Group Trust during the 4th quarter worth approximately $61,863,000. Deutsche Bank AG increased its holdings in shares of Kite Realty Group Trust by 434.7% during the 4th quarter. Deutsche Bank AG now owns 1,719,375 shares of the real estate investment trust’s stock valued at $41,213,000 after purchasing an additional 1,397,837 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Kite Realty Group Trust by 171.0% during the 2nd quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock valued at $38,756,000 after purchasing an additional 1,079,727 shares in the last quarter. Finally, Town Lane Management LP acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $25,466,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 0.9%

Shares of NYSE:KRG opened at $26.16 on Wednesday. Kite Realty Group Trust has a 1 year low of $20.97 and a 1 year high of $29.92. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 3.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.61. The business’s 50 day moving average price is $28.42 and its 200-day moving average price is $26.53.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.68. The firm had revenue of $196.26 million for the quarter, compared to analysts’ expectations of $197.32 million. Kite Realty Group Trust had a net margin of 41.80% and a return on equity of 11.26%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. On average, equities research analysts forecast that Kite Realty Group Trust will post 2.1 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 9th will be given a $0.29 dividend. The ex-dividend date is Friday, October 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.4%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 71.60%.

Analysts Set New Price Targets

KRG has been the topic of a number of recent analyst reports. UBS Group reissued a “neutral” rating and set a $30.00 price target (up from $28.00) on shares of Kite Realty Group Trust in a report on Thursday, July 9th. Piper Sandler reiterated a “neutral” rating and issued a $33.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a research report on Tuesday, July 21st. LADENBURG THALM/SH SH upped their price objective on shares of Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Jefferies Financial Group raised shares of Kite Realty Group Trust to a “hold” rating in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.14.

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.