SummitTX Capital L.P. Grows Stock Position in Kite Realty Group Trust $KRG

SummitTX Capital L.P. boosted its holdings in Kite Realty Group Trust (NYSE:KRG) by 45.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 355,188 shares of the real estate investment trust’s stock after buying an additional 110,852 shares during the period. SummitTX Capital L.P.’s holdings in Kite Realty Group Trust were worth $8,720,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its holdings in shares of Kite Realty Group Trust by 12.9% during the 1st quarter. Lazard Asset Management LLC now owns 61,177 shares of the real estate investment trust’s stock worth $1,502,000 after acquiring an additional 6,987 shares during the period. Entropy Technologies LP purchased a new stake in Kite Realty Group Trust in the first quarter valued at approximately $392,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Kite Realty Group Trust by 499.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,251,733 shares of the real estate investment trust’s stock worth $30,730,000 after purchasing an additional 1,043,075 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Kite Realty Group Trust during the first quarter worth approximately $1,785,000. Finally, Caxton Associates LLP raised its stake in Kite Realty Group Trust by 27.8% during the first quarter. Caxton Associates LLP now owns 60,147 shares of the real estate investment trust’s stock worth $1,477,000 after purchasing an additional 13,089 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $29.29 on Monday. The company’s fifty day simple moving average is $28.22 and its 200-day simple moving average is $26.17. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $29.92. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.95 billion, a PE ratio of 22.02, a P/E/G ratio of 4.13 and a beta of 0.85.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.The business had revenue of $200.70 million for the quarter, compared to analysts’ expectations of $198.37 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, equities research analysts anticipate that Kite Realty Group Trust will post 2.1 EPS for the current year.

Wall Street Analyst Weigh In

KRG has been the topic of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $33.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a report on Tuesday, July 21st. UBS Group restated a “neutral” rating and set a $30.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a report on Thursday, July 9th. LADENBURG THALM/SH SH increased their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Kite Realty Group Trust in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and six 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 $29.43.

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.