William Blair Investment Management LLC Trims Holdings in Kite Realty Group Trust $KRG

Key Points

• William Blair Investment Management LLC reduced its holdings in Kite Realty Group Trust by 7.5%, owning approximately 1.5 million shares valued at around $34 million after selling 121,361 shares.
• The company's CEO, John A. Kite, sold 50,000 shares for approximately $1.14 million, marking a significant decrease of 48.02% in his position.
• Kite Realty Group Trust announced a quarterly dividend of $0.27, yielding about 4.8%, with a payout ratio of 136.71%.

William Blair Investment Management LLC trimmed its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,502,797 shares of the real estate investment trust's stock after selling 121,361 shares during the period. William Blair Investment Management LLC owned about 0.68% of Kite Realty Group Trust worth $34,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position 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 worth $1,376,000 after acquiring an additional 500 shares during the last quarter. Truist Financial Corp raised its stake in shares of Kite Realty Group Trust by 5.3% during the second quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust's stock valued at $227,000 after purchasing an additional 503 shares during the period. State of Michigan Retirement System raised its stake in shares of Kite Realty Group Trust by 1.2% during the first 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 period. State of Alaska Department of Revenue grew its position in shares of Kite Realty Group Trust by 0.5% during the second quarter. State of Alaska Department of Revenue now owns 131,664 shares of the real estate investment trust's stock worth $2,981,000 after buying an additional 641 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Kite Realty Group Trust by 3.1% during the second quarter. Verdence Capital Advisors LLC now owns 22,302 shares of the real estate investment trust's stock worth $505,000 after buying an additional 661 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kite Realty Group Trust

In related news, CEO John A. Kite sold 50,000 shares of the business'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 owned 54,121 shares of the company's stock, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.50% of the company's stock.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $22.32 on Friday. 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 stock's 50-day moving average price is $22.20 and its two-hundred day moving average price is $22.13. The company has a market cap of $4.91 billion, a PE ratio of 28.25, a PEG ratio of 6.18 and a beta of 1.15.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting 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 company had revenue of $211.18 million for the quarter, compared to analysts' expectations of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Thursday, October 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.8%. Kite Realty Group Trust's payout ratio is presently 136.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KRG shares. Citigroup reissued a "neutral" rating and set a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Weiss Ratings reissued a "hold (c+)" rating on shares of Kite Realty Group Trust in a report on Wednesday, October 8th. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They set a "buy" rating and a $30.00 price objective on the stock. Wall Street Zen upgraded shares of Kite Realty Group Trust from a "sell" rating to a "hold" rating in a research note on Sunday, October 12th. Finally, 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 report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $26.50.

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.

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