M&T Bank Corp Sells 23,681 Shares of Kite Realty Group Trust $KRG

M&T Bank Corp lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 42.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,916 shares of the real estate investment trust’s stock after selling 23,681 shares during the quarter. M&T Bank Corp’s holdings in Kite Realty Group Trust were worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of KRG. Ameritas Advisory Services LLC bought a new stake in Kite Realty Group Trust during the 2nd quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in shares of Kite Realty Group Trust by 103.0% in the 2nd quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,323 shares during the period. Blue Trust Inc. boosted its position in shares of Kite Realty Group Trust by 44.0% during the second quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 908 shares in the last quarter. Dagco Inc. purchased a new stake in Kite Realty Group Trust in the first quarter worth $92,000. Finally, GAMMA Investing LLC raised its holdings in Kite Realty Group Trust by 30.1% in the second quarter. GAMMA Investing LLC now owns 4,520 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 1,045 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KRG. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a report on Tuesday, September 9th. They set a “buy” rating and a $30.00 target price on the stock. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Monday, December 1st. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Finally, Citigroup reissued a “neutral” rating and issued a $24.00 price target (down from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.88.

Kite Realty Group Trust Stock Down 2.1%

NYSE:KRG opened at $22.16 on Tuesday. The firm has a market cap of $4.80 billion, a P/E ratio of 34.62, a P/E/G ratio of 5.71 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 0.98. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $27.04. The firm has a 50-day simple moving average of $22.41 and a two-hundred day simple moving average of $22.36.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.27%. The firm had revenue of $205.06 million for the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be given a $0.29 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.16 annualized dividend and a yield of 5.2%. Kite Realty Group Trust’s payout ratio is currently 168.75%.

Kite Realty Group Trust Company 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.