Federated Hermes Inc. Sells 53,932 Shares of Kite Realty Group Trust (NYSE:KRG)

Federated Hermes Inc. lowered its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 24.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,811 shares of the real estate investment trust's stock after selling 53,932 shares during the period. Federated Hermes Inc. owned approximately 0.08% of Kite Realty Group Trust worth $3,799,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Optiver Holding B.V. raised its stake in Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 467 shares during the period. Louisiana State Employees Retirement System raised its stake in Kite Realty Group Trust by 0.8% during 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 purchasing an additional 500 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in Kite Realty Group Trust by 1.8% during 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 period. FIL Ltd raised its stake in Kite Realty Group Trust by 19.8% during the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 579 shares during the period. Finally, IHT Wealth Management LLC raised its stake in Kite Realty Group Trust by 3.3% during the 4th quarter. IHT Wealth Management LLC now owns 18,489 shares of the real estate investment trust's stock valued at $467,000 after purchasing an additional 582 shares during the period. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Up 0.5%

NYSE:KRG traded up $0.11 during trading hours on Tuesday, reaching $21.92. The company's stock had a trading volume of 2,521,522 shares, compared to its average volume of 1,534,449. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 6.61 and a beta of 1.16. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24. The business's 50-day moving average is $22.50 and its 200-day moving average is $22.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting analysts' consensus estimates of $0.51. The business had revenue of $211.18 million during the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. Equities research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio is 136.71%.

Wall Street Analyst Weigh In

Several analysts have issued reports on KRG shares. Raymond James Financial cut their target price 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. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Piper Sandler cut their target price on shares of Kite Realty Group Trust from $25.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, UBS Group initiated coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price on the stock. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $27.11.

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.