Ritholtz Wealth Management Buys Shares of 17,848 Kite Realty Group Trust $KRG

Ritholtz Wealth Management purchased a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the first quarter, Holdings Channel reports. The fund purchased 17,848 shares of the real estate investment trust’s stock, valued at approximately $438,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KRG. Centersquare Investment Management LLC raised its holdings in Kite Realty Group Trust by 1.3% in the 4th quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust’s stock valued at $197,436,000 after buying an additional 105,830 shares during the last quarter. Norges Bank bought a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $61,863,000. New Age Alpha Advisors LLC acquired a new position in Kite Realty Group Trust in the 3rd quarter valued at approximately $1,031,000. Lighthouse Investment Partners LLC raised its stake in shares of Kite Realty Group Trust by 33.1% during the third quarter. Lighthouse Investment Partners LLC now owns 965,000 shares of the real estate investment trust’s stock valued at $21,520,000 after acquiring an additional 240,000 shares during the last quarter. Finally, Pensionfund PDN acquired a new position in shares of Kite Realty Group Trust during the fourth quarter worth $1,522,000. 90.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KRG. UBS Group reissued a “neutral” rating and issued a $28.00 price objective (up from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, May 18th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $29.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a report on Tuesday, May 26th. Jefferies Financial Group upgraded Kite Realty Group Trust to a “hold” rating in a research report on Friday, June 26th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, LADENBURG THALM/SH SH lifted their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.43.

Kite Realty Group Trust Price Performance

KRG stock opened at $28.30 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The company’s fifty day simple moving average is $27.33 and its 200 day simple moving average is $25.56. Kite Realty Group Trust has a 12-month low of $20.86 and a 12-month high of $29.40. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 4.01 and a beta of 0.85.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. The business 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. On average, analysts expect that Kite Realty Group Trust will post 2.09 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, July 9th. Kite Realty Group Trust’s dividend payout ratio is presently 87.22%.

Kite Realty Group Trust Company 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.