Great Lakes Advisors LLC Sells 41,749 Shares of Kite Realty Group Trust $KRG

Key Points

• Great Lakes Advisors LLC has reduced its stake in Kite Realty Group Trust by 16.4%, now holding approximately 212,726 shares valued at $4.76 million.
• Insider trading revealed that CEO John A. Kite sold 50,000 shares, decreasing his ownership by 48% to 54,121 shares worth over $1.22 million.
• Several analysts have recently lowered their price targets for Kite Realty Group Trust, with a consensus rating of "Hold" and an average target price of $26.78.

Great Lakes Advisors LLC decreased its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,726 shares of the real estate investment trust's stock after selling 41,749 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.10% of Kite Realty Group Trust worth $4,759,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its holdings in shares of Kite Realty Group Trust by 0.8% in the first 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 purchasing an additional 500 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position 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 purchasing an additional 556 shares during the last quarter. State of Michigan Retirement System raised its position 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 purchasing an additional 600 shares during the last quarter. Captrust Financial Advisors raised its position in 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 worth $460,000 after buying an additional 613 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Kite Realty Group Trust during the 1st quarter worth $25,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James Financial lowered their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 23rd. UBS Group started coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a "buy" rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.50.

Kite Realty Group Trust Trading Up 0.7%

Shares of KRG traded up $0.16 during trading hours on Monday, hitting $22.69. 538,347 shares of the stock traded hands, compared to its average volume of 1,859,153. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. The firm has a market capitalization of $4.99 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 6.24 and a beta of 1.13. The business has a fifty day moving average of $22.33 and a 200-day moving average of $22.18.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.51. The firm had revenue of $211.18 million during the quarter, compared to analysts' expectations of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 136.71%.

Insiders Place Their Bets

In other news, CEO John A. Kite sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total value 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 $1,228,546.70. This trade represents a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Kite Realty Group Trust Company 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.