SouthState Corp Sells 1,375 Shares of Kite Realty Group Trust (NYSE:KRG)

SouthState Corp lessened its position in shares of Kite Realty Group Trust (NYSE:KRG) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,385 shares of the real estate investment trust’s stock after selling 1,375 shares during the quarter. SouthState Corp’s holdings in Kite Realty Group Trust were worth $489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KRG. Wolverine Asset Management LLC lifted its position in Kite Realty Group Trust by 280.5% during the 4th quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,327 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kite Realty Group Trust by 41.7% during the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 742 shares during the period. VitalStone Financial LLC acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth about $161,000. Column Capital Advisors LLC boosted its position in Kite Realty Group Trust by 8,241.0% in the third quarter. Column Capital Advisors LLC now owns 8,341 shares of the real estate investment trust’s stock valued at $179,000 after buying an additional 8,241 shares during the last quarter. Finally, Custom Index Systems LLC acquired a new position in Kite Realty Group Trust in the 4th quarter worth approximately $244,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

KRG stock traded down $0.32 during mid-day trading on Friday, reaching $21.07. 2,076,646 shares of the company’s stock were exchanged, compared to its average volume of 1,893,766. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 81.04, a price-to-earnings-growth ratio of 3.08 and a beta of 1.28. Kite Realty Group Trust has a 12-month low of $19.16 and a 12-month high of $24.26. The stock’s 50 day moving average is $21.03 and its 200 day moving average is $21.42. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.72 and a quick ratio of 0.76.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Tuesday, July 9th will be paid a $0.25 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.75%. Kite Realty Group Trust’s dividend payout ratio is currently 384.63%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KRG. StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.00.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company's primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.