Wolverine Asset Management LLC Makes New Investment in Kite Realty Group Trust $KRG

Wolverine Asset Management LLC bought a new stake in Kite Realty Group Trust (NYSE:KRG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 196,035 shares of the real estate investment trust’s stock, valued at approximately $4,372,000. Wolverine Asset Management LLC owned about 0.09% of Kite Realty Group Trust as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

KRG has been the topic of a number of analyst reports. UBS Group reaffirmed a “neutral” rating and set a $25.00 price objective (up previously from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Monday, December 29th. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, Jefferies Financial Group restated a “hold” rating and set a $24.00 target price (up previously from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.43.

Kite Realty Group Trust Price Performance

KRG opened at $23.33 on Friday. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $24.54. The company’s 50 day simple moving average is $23.20 and its 200 day simple moving average is $22.62. The stock has a market capitalization of $5.05 billion, a PE ratio of 36.45, a P/E/G ratio of 5.90 and a beta of 0.89. 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 (NYSE:KRG) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $205.06 million for 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 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be issued a $0.29 dividend. The ex-dividend date is Friday, January 9th. This is an increase 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 181.25%.

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.