Truist Financial Corp Sells 11,771 Shares of Kite Realty Group Trust (NYSE:KRG)

Truist Financial Corp cut its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 10.1% in the fourth quarter, HoldingsChannel reports. The fund owned 104,803 shares of the real estate investment trust’s stock after selling 11,771 shares during the period. Truist Financial Corp’s holdings in Kite Realty Group Trust were worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KRG. Verdence Capital Advisors LLC lifted its holdings in Kite Realty Group Trust by 4.1% during the third 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. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Kite Realty Group Trust by 3.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,877 shares of the real estate investment trust’s stock valued at $1,690,000 after purchasing an additional 2,479 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Kite Realty Group Trust by 1,053.1% during the 3rd quarter. Mackenzie Financial Corp now owns 402,378 shares of the real estate investment trust’s stock valued at $8,217,000 after buying an additional 367,482 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kite Realty Group Trust by 2.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,939 shares of the real estate investment trust’s stock valued at $2,248,000 after buying an additional 2,024 shares in the last quarter. Finally, Advisor Partners II LLC boosted its holdings in Kite Realty Group Trust by 9.0% in the 3rd quarter. Advisor Partners II LLC now owns 13,560 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 1,123 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KRG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Stock Down 1.6 %

Shares of KRG stock opened at $21.23 on Thursday. The company’s fifty day simple moving average is $21.04 and its two-hundred day simple moving average is $21.44. Kite Realty Group Trust has a 52 week low of $19.16 and a 52 week high of $24.26. The stock has a market cap of $4.66 billion, a P/E ratio of 81.64, a PEG ratio of 3.03 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Tuesday, July 9th will be given a $0.25 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.71%. Kite Realty Group Trust’s dividend payout ratio is currently 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.