SG Americas Securities LLC Sells 31,574 Shares of Kite Realty Group Trust $KRG

SG Americas Securities LLC cut its holdings in Kite Realty Group Trust (NYSE:KRG) by 54.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,692 shares of the real estate investment trust’s stock after selling 31,574 shares during the quarter. SG Americas Securities LLC’s holdings in Kite Realty Group Trust were worth $595,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KRG. JPMorgan Chase & Co. increased its position in Kite Realty Group Trust by 11.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock valued at $281,229,000 after acquiring an additional 1,250,549 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Kite Realty Group Trust by 14.9% during the second quarter. Bank of America Corp DE now owns 5,956,664 shares of the real estate investment trust’s stock valued at $134,918,000 after purchasing an additional 773,023 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kite Realty Group Trust by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock valued at $133,183,000 after purchasing an additional 40,017 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Kite Realty Group Trust by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,758,033 shares of the real estate investment trust’s stock worth $85,119,000 after purchasing an additional 61,982 shares during the last quarter. Finally, Norges Bank acquired a new position in Kite Realty Group Trust during the 2nd quarter worth $65,504,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $23.26 on Friday. The stock has a 50-day moving average of $23.30 and a 200-day moving average of $22.64. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $24.54. The stock has a market cap of $5.03 billion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 5.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.98.

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

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 9th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 5.0%. Kite Realty Group Trust’s payout ratio is presently 181.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company raised Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Jefferies Financial Group restated a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday, December 29th. Finally, Raymond James Financial cut shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.43.

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.