Northern Trust Corp Sells 44,001 Shares of Kite Realty Group Trust $KRG

Key Points

• Northern Trust Corp reduced its holdings in Kite Realty Group Trust by 1.2%, selling 44,001 shares, and now owns approximately 1.63% of the company, valued at $80 million.
• Brokerages have reacted to the stock with mixed ratings; Piper Sandler and UBS Group have a "neutral" rating with a price target of $24.00, while Raymond James maintains a "strong-buy" rating with a target of $26.00.
• Kite Realty Group Trust announced a quarterly dividend of $0.27 per share, with a yield of 4.7%, and a payout ratio currently at 136.71%.

Northern Trust Corp lessened its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,579,859 shares of the real estate investment trust's stock after selling 44,001 shares during the period. Northern Trust Corp owned approximately 1.63% of Kite Realty Group Trust worth $80,081,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Kite Realty Group Trust during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Kite Realty Group Trust during the first quarter worth approximately $25,000. Optiver Holding B.V. boosted its holdings in shares of Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 467 shares during the period. CX Institutional bought a new stake in shares of Kite Realty Group Trust during the first quarter worth approximately $79,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Kite Realty Group Trust during the fourth quarter worth approximately $101,000. Institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on KRG. Piper Sandler reiterated a "neutral" rating and issued a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. 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 target for the company. Wall Street Zen cut Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Raymond James Financial cut their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $27.11.

Kite Realty Group Trust Stock Up 4.1%

Shares of KRG opened at $22.7640 on Monday. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24. The company has a market cap of $5.00 billion, a P/E ratio of 28.82, a P/E/G ratio of 6.30 and a beta of 1.16. 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 firm has a 50 day simple moving average of $22.33 and a two-hundred day simple moving average of $22.17.

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 the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The business had revenue of $211.18 million during the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.7%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's payout ratio is currently 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.

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