Principal Financial Group Inc. Buys 246,285 Shares of Kite Realty Group Trust $KRG

Principal Financial Group Inc. increased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 52.5% during the first quarter, HoldingsChannel.com reports. The fund owned 715,319 shares of the real estate investment trust’s stock after purchasing an additional 246,285 shares during the period. Principal Financial Group Inc.’s holdings in Kite Realty Group Trust were worth $17,561,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Cohen & Steers Inc. lifted its holdings in Kite Realty Group Trust by 26.3% in the 4th quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock worth $630,805,000 after purchasing an additional 5,486,116 shares during the last quarter. Norges Bank bought a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $61,863,000. Deutsche Bank AG grew its holdings in Kite Realty Group Trust by 434.7% during the fourth quarter. Deutsche Bank AG now owns 1,719,375 shares of the real estate investment trust’s stock valued at $41,213,000 after purchasing an additional 1,397,837 shares during the last quarter. Sei Investments Co. grew its holdings in Kite Realty Group Trust by 171.0% during the second quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock valued at $38,756,000 after purchasing an additional 1,079,727 shares during the last quarter. Finally, Town Lane Management LP bought a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $25,466,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Trading Down 1.7%

Shares of KRG opened at $29.33 on Thursday. The stock has a 50 day simple moving average of $28.10 and a 200-day simple moving average of $26.10. 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 stock has a market cap of $5.96 billion, a PE ratio of 22.06, a PEG ratio of 4.20 and a beta of 0.85. Kite Realty Group Trust has a 1 year low of $20.86 and a 1 year high of $29.92.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $200.70 million for the quarter, compared to analyst estimates of $198.37 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. On average, sell-side analysts predict that Kite Realty Group Trust will post 2.1 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were given a $0.29 dividend. The ex-dividend date was Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.0%. Kite Realty Group Trust’s payout ratio is 87.22%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. LADENBURG THALM/SH SH boosted their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Wells Fargo & Company reiterated an “overweight” rating and issued a $29.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a research note on Tuesday, May 26th. UBS Group reiterated a “neutral” rating and issued a $30.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a report on Thursday, July 9th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Jefferies Financial Group upgraded shares of Kite Realty Group Trust to a “hold” rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.00.

About Kite Realty Group Trust

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.