Wolverine Asset Management LLC Takes $4.37 Million Position in Kite Realty Group Trust $KRG

Wolverine Asset Management LLC bought a new position in shares of Kite Realty Group Trust (NYSE:KRG) in the third quarter, Holdings Channel reports. The firm bought 196,035 shares of the real estate investment trust’s stock, valued at approximately $4,372,000.

Several other hedge funds have also recently bought and sold shares of KRG. Harbor Capital Advisors Inc. lifted its position in Kite Realty Group Trust by 54.8% during the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 462 shares in the last quarter. Truist Financial Corp increased its position in shares of Kite Realty Group Trust by 5.3% in the second quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 503 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Kite Realty Group Trust by 21.4% in the 3rd quarter. Versant Capital Management Inc now owns 3,085 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 544 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Kite Realty Group Trust by 0.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 131,664 shares of the real estate investment trust’s stock valued at $2,981,000 after acquiring an additional 641 shares during the period. Finally, Smallwood Wealth Investment Management LLC lifted its holdings in shares of Kite Realty Group Trust by 57.9% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 0.2%

NYSE:KRG opened at $23.33 on Friday. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 5.90 and a beta of 0.89. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $24.54. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 0.98. The business’s 50-day simple moving average is $23.20 and its 200 day simple moving average is $22.62.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data 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 return on equity of 4.27% and a net margin of 16.34%.The company 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. As a group, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s payout ratio is presently 181.25%.

Analyst Ratings Changes

Several analysts recently issued reports on KRG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Monday, December 29th. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Hold” and an average target price of $25.43.

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.