Pacer Advisors Inc. Sells 12,939 Shares of Kite Realty Group Trust (NYSE:KRG)

Key Points

• Pacer Advisors Inc. reduced its holdings in Kite Realty Group Trust (NYSE: KRG) by 29.6%, ending the first quarter with a position valued at $688,000.
• Institutional investors hold 90.81% of Kite Realty Group Trust's stock, with recent activity including significant purchases by LPL Financial and Franklin Resources.
• KRG's stock has a current market value of $21.99, with analysts providing average ratings of "Hold" and a price target of $27.22.

Pacer Advisors Inc. lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 29.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,756 shares of the real estate investment trust's stock after selling 12,939 shares during the quarter. Pacer Advisors Inc.'s holdings in Kite Realty Group Trust were worth $688,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of KRG. Opal Wealth Advisors LLC bought a new position in shares of Kite Realty Group Trust during the 1st quarter worth $25,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Kite Realty Group Trust during the 1st quarter valued at about $25,000. Optiver Holding B.V. raised its holdings in shares of 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 buying an additional 467 shares in the last quarter. CX Institutional bought a new position in Kite Realty Group Trust during the first quarter valued at approximately $79,000. Finally, FIL Ltd grew its position in Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 579 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group assumed 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 on the stock. Raymond James Financial cut their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 23rd. Piper Sandler cut their price objective on Kite Realty Group Trust from $25.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Wall Street Zen lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $27.11.

Kite Realty Group Trust Stock Up 1.0%

Shares of KRG stock traded up $0.23 during mid-day trading on Monday, hitting $21.87. The company's stock had a trading volume of 302,088 shares, compared to its average volume of 1,896,926. 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 moving average price of $22.49 and a 200 day moving average price of $22.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 6.57 and a beta of 1.16.

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 earnings per share for the quarter, hitting the consensus estimate 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 analysts' expectations of $211.74 million. Research analysts predict 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. Investors of record on Thursday, October 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio is 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.