Kite Realty Group Trust $KRG Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 38.5% in the 3rd quarter, Holdings Channel reports. The firm owned 145,213 shares of the real estate investment trust’s stock after selling 91,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Kite Realty Group Trust were worth $3,542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of Kite Realty Group Trust during the second quarter valued at $44,463,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Kite Realty Group Trust by 499.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,251,733 shares of the real estate investment trust’s stock worth $30,730,000 after buying an additional 1,043,075 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Kite Realty Group Trust by 52.5% during the 1st quarter. Principal Financial Group Inc. now owns 715,319 shares of the real estate investment trust’s stock valued at $17,561,000 after acquiring an additional 246,285 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Kite Realty Group Trust in the second quarter worth approximately $5,065,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Kite Realty Group Trust during the second quarter valued at approximately $4,831,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $25.70 on Tuesday. The firm’s 50 day moving average price is $25.08 and its 200-day moving average price is $26.08. Kite Realty Group Trust has a twelve month low of $21.64 and a twelve month high of $29.92. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $5.15 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 4.41 and a beta of 0.88.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Friday, October 30th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.15). The business had revenue of $190.28 million for the quarter, compared to the consensus estimate of $195.62 million. Kite Realty Group Trust had a net margin of 41.80% and a return on equity of 11.26%. Equities research analysts expect that Kite Realty Group Trust will post 2.09 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Saturday, January 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, January 8th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 71.60%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KRG shares. LADENBURG THALM/SH SH increased their price objective on shares of Kite Realty Group Trust from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Kite Realty Group Trust from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, September 28th. Wells Fargo & Company set a $27.00 target price on shares of Kite Realty Group Trust and gave the company an “overweight” rating in a research note on Friday, October 23rd. Citigroup reiterated a “neutral” rating and set a $31.00 target price (up from $27.00) on shares of Kite Realty Group Trust in a research note on Monday, August 3rd. Finally, Piper Sandler reissued a “neutral” rating and set a $27.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Monday, October 12th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Hold” and an average price target of $27.78.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that owns, operates, acquires, develops and redevelops open-air shopping centers in the United States. Its properties are primarily grocery-anchored and neighborhood shopping centers designed to serve daily consumer needs.

The company’s tenant base includes grocery stores, restaurants, service providers, fitness operators, retailers and other businesses. Kite Realty focuses on well-located properties in established and growing communities, with an emphasis on maintaining diversified centers that attract recurring customer traffic.

Headquartered in Indianapolis, Indiana, Kite Realty expanded its portfolio through the 2021 merger with Retail Properties of America, Inc The company’s operations extend across multiple U.S.