Presima Securities ULC Cuts Stock Holdings in Kite Realty Group Trust $KRG

Key Points

• Presima Securities ULC reduced its position in Kite Realty Group Trust by 19.4%, selling 16,001 shares during the first quarter which left them with a total of 66,329 shares valued at approximately $1.48 million.
• CEO John A. Kite sold 50,000 shares at an average price of $22.70, resulting in a 48.02% decrease in his ownership, while he currently holds 54,121 shares valued at around $1.23 million.
• Kite Realty Group Trust declared a quarterly dividend of $0.27 per share, set to be paid on October 16th, providing an annualized yield of 4.6%, despite a high payout ratio of 136.71%.

Presima Securities ULC decreased its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 19.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,329 shares of the real estate investment trust's stock after selling 16,001 shares during the period. Presima Securities ULC's holdings in Kite Realty Group Trust were worth $1,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 buying an additional 500 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in Kite Realty Group Trust by 1.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock valued at $806,000 after buying an additional 556 shares during the period. State of Michigan Retirement System increased its holdings in Kite Realty Group Trust by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust's stock valued at $1,177,000 after buying an additional 600 shares during the period. Captrust Financial Advisors grew its holdings in shares of Kite Realty Group Trust by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 18,214 shares of the real estate investment trust's stock valued at $460,000 after purchasing an additional 613 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Kite Realty Group Trust during the 1st quarter valued at approximately $25,000. Institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KRG shares. Wells Fargo & Company cut their price objective on Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Citigroup reaffirmed a "neutral" rating and set a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday. Wall Street Zen lowered shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Piper Sandler reissued a "neutral" rating and set a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a research report on Tuesday. They set a "buy" rating and a $30.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.50.

Insider Buying and Selling at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the transaction, the chief executive officer owned 54,121 shares of the company's stock, valued at approximately $1,228,546.70. This represents a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.50% of the company's stock.

Kite Realty Group Trust Stock Performance

Shares of KRG traded down $0.18 during trading hours on Friday, hitting $22.55. The company's stock had a trading volume of 831,614 shares, compared to its average volume of 1,861,003. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The business has a 50 day simple moving average of $22.34 and a two-hundred day simple moving average of $22.18. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 6.26 and a beta of 1.13.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting analysts' consensus estimates of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%.The firm had revenue of $211.18 million during 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. On average, equities analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.8%. Kite Realty Group Trust's dividend payout ratio is presently 136.71%.

Kite Realty Group Trust Profile

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.