Kite Realty Group Trust (NYSE:KRG) Shares Sold by SouthState Corp

SouthState Corp lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,385 shares of the real estate investment trust’s stock after selling 1,375 shares during the quarter. SouthState Corp’s holdings in Kite Realty Group Trust were worth $489,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Verdence Capital Advisors LLC increased its holdings in shares of Kite Realty Group Trust by 4.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 14,619 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 576 shares in the last quarter. Stifel Financial Corp increased its holdings in Kite Realty Group Trust by 0.8% in the third quarter. Stifel Financial Corp now owns 78,300 shares of the real estate investment trust’s stock valued at $1,677,000 after buying an additional 639 shares in the last quarter. abrdn plc lifted its position in shares of Kite Realty Group Trust by 1.5% during the 3rd quarter. abrdn plc now owns 46,157 shares of the real estate investment trust’s stock valued at $989,000 after acquiring an additional 699 shares during the period. Blue Trust Inc. lifted its position in shares of Kite Realty Group Trust by 41.7% during the 4th quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 742 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Kite Realty Group Trust by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 62,449 shares of the real estate investment trust’s stock worth $1,338,000 after acquiring an additional 845 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KRG. Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Thursday, April 18th. StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.00.

Kite Realty Group Trust Trading Down 1.5 %

Shares of KRG traded down $0.32 on Friday, hitting $21.07. 2,076,646 shares of the stock traded hands, compared to its average volume of 1,893,766. Kite Realty Group Trust has a 1 year low of $19.16 and a 1 year high of $24.26. The stock’s 50 day moving average is $21.03 and its two-hundred day moving average is $21.42. The firm has a market capitalization of $4.63 billion, a P/E ratio of 81.04, a P/E/G ratio of 3.08 and a beta of 1.28. The company has a quick ratio of 0.76, a current ratio of 2.72 and a debt-to-equity ratio of 0.90.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Tuesday, July 9th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend is Friday, July 5th. Kite Realty Group Trust’s dividend payout ratio is presently 384.63%.

About Kite Realty Group Trust

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.