Renaissance Technologies LLC Buys Shares of 72,703 Kite Realty Group Trust $KRG

Renaissance Technologies LLC bought a new stake in Kite Realty Group Trust (NYSE:KRG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 72,703 shares of the real estate investment trust’s stock, valued at approximately $1,785,000.

A number of other institutional investors have also recently made changes to their positions in KRG. Cohen & Steers Inc. boosted its stake in shares of Kite Realty Group Trust by 26.3% in the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock worth $630,805,000 after acquiring an additional 5,486,116 shares during the last quarter. Norges Bank acquired a new position in Kite Realty Group Trust in the 4th quarter valued at $61,863,000. Deutsche Bank AG lifted its holdings in Kite Realty Group Trust by 434.7% in the 4th 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 in the last quarter. Sei Investments Co. lifted its holdings in Kite Realty Group Trust by 171.0% in the 2nd 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 in the last quarter. Finally, Town Lane Management LP acquired a new stake in Kite Realty Group Trust during the 4th quarter worth $25,466,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $26.16 on Wednesday. The company’s 50-day moving average is $28.42 and its two-hundred day moving average is $26.53. Kite Realty Group Trust has a 1-year low of $20.97 and a 1-year high of $29.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 3.90 and a beta of 0.86.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.68. The business had revenue of $196.26 million during the quarter, compared to the consensus estimate of $197.32 million. Kite Realty Group Trust had a net margin of 41.80% and a return on equity of 11.26%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Analysts forecast that Kite Realty Group Trust will post 2.1 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.16 annualized dividend and a yield of 4.4%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 71.60%.

Wall Street Analysts Forecast Growth

KRG has been the subject of a number of research reports. LADENBURG THALM/SH SH upped their target price on shares of Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Citigroup reissued a “neutral” rating and issued a $31.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a research note on Monday, August 3rd. Piper Sandler restated a “neutral” rating and set a $33.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a research report on Tuesday, July 21st. Wells Fargo & Company set a $32.00 price objective on shares of Kite Realty Group Trust and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group upgraded shares of Kite Realty Group Trust to a “hold” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.14.

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.