Kite Realty Group Trust $KRG Stake Trimmed by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems cut its Kite Realty Group Trust stake by 38.5% in the third quarter, selling 91,000 shares and retaining 145,213 shares valued at approximately $3.54 million. Institutional investors collectively own 90.81% of KRG.
• Analyst sentiment is mixed, with three Buy ratings, eight Holds and one Sell. The stock has a consensus rating of Hold and an average price target of $27.78, versus its reported price of $25.70.
• KRG missed quarterly earnings and revenue expectations, reporting a loss of $0.07 per share on $190.28 million in revenue. The company declared a $0.29 quarterly dividend, equal to a $1.16 annualized payout and a 4.5% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 38.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 owned 0.07% of Kite Realty Group Trust worth $3,542,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Inspire Investing LLC grew its holdings in shares of Kite Realty Group Trust by 1.6% during the 3rd quarter. Inspire Investing LLC now owns 25,990 shares of the real estate investment trust's stock worth $634,000 after acquiring an additional 411 shares during the period. United Capital Financial Advisors LLC lifted its stake in shares of Kite Realty Group Trust by 4.9% in the 2nd quarter. United Capital Financial Advisors LLC now owns 9,747 shares of the real estate investment trust's stock valued at $277,000 after purchasing an additional 453 shares during the period. Parallel Advisors LLC lifted its stake in shares of Kite Realty Group Trust by 7.2% in the 1st quarter. Parallel Advisors LLC now owns 6,897 shares of the real estate investment trust's stock valued at $169,000 after purchasing an additional 461 shares during the period. Bessemer Group Inc. boosted its position in shares of Kite Realty Group Trust by 44.4% during the first quarter. Bessemer Group Inc. now owns 1,519 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 467 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Kite Realty Group Trust by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 5,309 shares of the real estate investment trust's stock valued at $129,000 after purchasing an additional 562 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KRG shares. JPMorgan Chase & Co. downgraded Kite Realty Group Trust from a "neutral" rating to an "underweight" rating and set a $27.00 price objective for the company. in a report on Thursday, September 24th. Wall Street Zen lowered Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Citigroup restated a "neutral" rating and set a $31.00 target price (up from $27.00) on shares of Kite Realty Group Trust in a report on Monday, August 3rd. UBS Group reaffirmed a "neutral" rating and issued a $26.00 target price (down from $30.00) on shares of Kite Realty Group Trust in a research report on Friday, October 9th. Finally, LADENBURG THALM/SH SH increased their price target on shares of Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of "Hold" and an average target price of $27.78.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $25.70 on Tuesday. Kite Realty Group Trust has a 1-year low of $21.64 and a 1-year high of $29.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.61. The business has a fifty day moving average price of $25.08 and a 200-day moving average price of $26.08. The company has a market capitalization of $5.15 billion, a PE ratio of 15.87, a PEG ratio of 4.41 and a beta of 0.88.

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

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Saturday, January 9th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, January 8th. This represents a $1.16 annualized dividend and a yield of 4.5%. Kite Realty Group Trust's payout ratio is 71.60%.

About Kite Realty Group Trust

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.

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