State Street Corp. Holds 11.7% Stake in Kite Realty Group Trust
Ticker: KRG · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 1286043
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, real-estate, passive-investment
TL;DR
**State Street owns 11.7% of Kite Realty, a big institutional vote of confidence.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 30, 2024, disclosing its ownership in Kite Realty Group Trust. As of December 31, 2023, State Street Corporation holds 10,776,014 shares, representing 11.7% of Kite Realty Group Trust's REIT class of securities. This filing indicates a significant passive institutional stake, which can provide stability but also means a large holder could influence trading if they decide to adjust their position.
Why It Matters
This filing shows a major institutional investor, State Street Corporation, has a substantial stake in Kite Realty Group Trust, which can be seen as a vote of confidence but also means a large block of shares is held by a single entity.
Risk Assessment
Risk Level: low — The filing indicates a passive investment by a large institution, which generally suggests stability rather than immediate risk.
Analyst Insight
An investor should note the significant institutional ownership by State Street Corporation, which can imply stability but also means any future changes in their position could impact the stock. Monitor subsequent filings for any shifts in their holdings.
Key Numbers
- 10,776,014 — Shares Owned (Represents the total number of Kite Realty Group Trust shares beneficially owned by State Street Corporation.)
- 11.7% — Percentage of Class (Indicates the significant ownership stake State Street Corporation has in Kite Realty Group Trust's REIT securities.)
- 20231231 — Date of Event (The specific date as of which State Street Corporation's ownership was calculated for this filing.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Kite Realty Group Trust (company) — the issuer of the securities
- 10,776,014 (dollar_amount) — shares beneficially owned by State Street Corporation
- 11.7% (dollar_amount) — percentage of class owned by State Street Corporation
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- State Street Corporation will maintain its significant stake in Kite Realty Group Trust. (State Street Corporation) — medium confidence, target: Q2 2024
- Kite Realty Group Trust's stock price will exhibit relative stability due to large institutional ownership. (Kite Realty Group Trust) — medium confidence, target: Q3 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is State Street Corporation, as identified in the filing under 'NAME OF REPORTING PERSON: STATE STREET CORPORATION'.
What is the name of the issuer whose securities are being reported on?
The issuer is KITE REALTY GROUP TRUST, as stated under 'NAME OF ISSUER: KITE REALTY GROUP TRUST'.
What type of securities are covered by this filing?
The filing covers 'REIT' (Title of Class of Securities) issued by Kite Realty Group Trust.
As of what date was the ownership percentage calculated for this filing?
The ownership percentage was calculated as of December 31, 2023, indicated by 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT: 12/31/2023'.
What percentage of Kite Realty Group Trust's securities does State Street Corporation beneficially own?
State Street Corporation beneficially owns 11.7% of Kite Realty Group Trust's REIT class of securities, as detailed in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding KITE REALTY GROUP TRUST (KRG).