Anson Funds Management LP Invests $2.46 Million in Kite Realty Group Trust $KRG

Anson Funds Management LP bought a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 110,000 shares of the real estate investment trust’s stock, valued at approximately $2,461,000. Anson Funds Management LP owned 0.05% of Kite Realty Group Trust as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KRG. Centersquare Investment Management LLC lifted its position in shares of Kite Realty Group Trust by 133.6% during the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after purchasing an additional 3,408,442 shares in the last quarter. Nuveen LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter worth $70,071,000. Long Pond Capital LP acquired a new position in Kite Realty Group Trust in the 1st quarter worth $60,616,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Kite Realty Group Trust by 332.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust’s stock valued at $33,776,000 after buying an additional 1,160,694 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Kite Realty Group Trust during the first quarter valued at about $24,727,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on KRG shares. Raymond James Financial cut their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Friday, May 23rd. Wells Fargo & Company cut their target price on Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Piper Sandler restated 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 note on Monday, August 4th. Finally, LADENBURG THALM/SH SH began coverage on shares of Kite Realty Group Trust in a report on Tuesday. They issued a “buy” rating and a $30.00 price target on the stock. One investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.78.

Insiders Place Their Bets

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the transaction, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This trade represents a 48.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by company insiders.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $22.62 on Thursday. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 6.30 and a beta of 1.13. The stock has a 50 day moving average of $22.34 and a 200-day moving average of $22.17.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%.The firm had revenue of $211.18 million for the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust’s dividend payout ratio is currently 136.71%.

Kite Realty Group Trust Profile

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.