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Truist Financial Corp lowered its stake in Kite Realty Group Trust (NYSE:KRG – Get Rating) by 15.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,408 shares of the real estate investment trust’s stock after selling 26,929 shares during the period. Truist Financial Corp owned 0.07% of Kite Realty Group Trust worth $2,625,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in KRG. ACG Wealth bought a new position in shares of Kite Realty Group Trust during the second quarter valued at $79,000. Clearbridge Investments LLC raised its stake in shares of Kite Realty Group Trust by 5.5% during the second quarter. Clearbridge Investments LLC now owns 1,002,595 shares of the real estate investment trust’s stock valued at $17,335,000 after acquiring an additional 51,858 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Kite Realty Group Trust by 14.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,356 shares of the real estate investment trust’s stock valued at $490,000 after acquiring an additional 3,506 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Kite Realty Group Trust during the third quarter valued at $1,004,000. Finally, Legacy Wealth Asset Management LLC raised its stake in shares of Kite Realty Group Trust by 3.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 18,570 shares of the real estate investment trust’s stock valued at $321,000 after acquiring an additional 593 shares during the last quarter. Institutional investors and hedge funds own 96.84% of the company’s stock.
Insider Activity
In other news, Director Steven P. Grimes sold 32,054 shares of Kite Realty Group Trust stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $22.22, for a total transaction of $712,239.88. Following the completion of the transaction, the director now directly owns 791,452 shares in the company, valued at $17,586,063.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Steven P. Grimes sold 32,054 shares of Kite Realty Group Trust stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $22.22, for a total transaction of $712,239.88. Following the completion of the transaction, the director now directly owns 791,452 shares in the company, valued at $17,586,063.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven P. Grimes sold 12,946 shares of Kite Realty Group Trust stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $22.35, for a total transaction of $289,343.10. Following the transaction, the director now owns 778,506 shares of the company’s stock, valued at $17,399,609.10. The disclosure for this sale can be found here. Insiders sold 91,500 shares of company stock worth $2,013,888 over the last three months. 1.30% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
KRG has been the subject of several analyst reports. Barclays raised their price target on shares of Kite Realty Group Trust from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, December 6th. Robert W. Baird downgraded shares of Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $25.00 in a research note on Thursday, January 5th. Piper Sandler lifted their target price on shares of Kite Realty Group Trust to $25.00 in a research note on Wednesday, November 16th. Raymond James lowered their target price on shares of Kite Realty Group Trust from $27.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 4th. Finally, Bank of America raised shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $22.00 to $25.00 in a research note on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.25.
Kite Realty Group Trust Trading Down 3.1 %
KRG opened at $20.79 on Monday. Kite Realty Group Trust has a 1-year low of $16.42 and a 1-year high of $23.35. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.78. The company has a market cap of $4.56 billion, a P/E ratio of -35.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The company has a fifty day moving average price of $21.51 and a two-hundred day moving average price of $19.84.
Kite Realty Group Trust Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, January 6th were paid a $0.24 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 4.62%. The ex-dividend date was Thursday, January 5th. Kite Realty Group Trust’s payout ratio is -165.52%.
Kite Realty Group Trust Profile
(Get Rating)
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.
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