Allianz Asset Management GmbH lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 16.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 521,310 shares of the real estate investment trust's stock after selling 102,462 shares during the period. Allianz Asset Management GmbH owned 0.24% of Kite Realty Group Trust worth $11,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of KRG. Louisiana State Employees Retirement System increased its holdings in Kite Realty Group Trust by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust's stock valued at $1,376,000 after acquiring an additional 500 shares during the last quarter. Truist Financial Corp grew its position in shares of Kite Realty Group Trust by 5.3% during the second quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust's stock valued at $227,000 after purchasing an additional 503 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Kite Realty Group Trust by 1.2% in the first quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust's stock worth $1,177,000 after purchasing an additional 600 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Kite Realty Group Trust by 0.5% in the second quarter. State of Alaska Department of Revenue now owns 131,664 shares of the real estate investment trust's stock worth $2,981,000 after buying an additional 641 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in Kite Realty Group Trust by 3.1% during the second quarter. Verdence Capital Advisors LLC now owns 22,302 shares of the real estate investment trust's stock valued at $505,000 after buying an additional 661 shares during the last quarter. Institutional investors own 90.81% of the company's stock.
Insider Buying and Selling at Kite Realty Group Trust
In other news, CEO John A. Kite sold 50,000 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the completion of the sale, the chief executive officer directly owned 54,121 shares of the company's stock, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on KRG. UBS Group began coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price objective on the stock. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They issued a "buy" rating and a $30.00 price target on the stock. Citigroup reiterated a "neutral" rating and set a $24.00 price objective (down previously from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Finally, Piper Sandler restated a "neutral" rating and set a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $26.50.
View Our Latest Stock Report on KRG
Kite Realty Group Trust Price Performance
Kite Realty Group Trust stock opened at $22.54 on Tuesday. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $22.24 and a 200-day moving average price of $22.14. The firm has a market capitalization of $4.96 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 6.18 and a beta of 1.15.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting analysts' consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The company had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, equities research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.
Kite Realty Group Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th were paid a $0.27 dividend. The ex-dividend date was Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 136.71%.
Kite Realty Group Trust Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding KRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Realty Group Trust (NYSE:KRG - Free Report).
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