Profund Advisors LLC Sells 1,093 Shares of Kite Realty Group Trust (NYSE:KRG)

Profund Advisors LLC lowered its position in shares of Kite Realty Group Trust (NYSE:KRG) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,018 shares of the real estate investment trust’s stock after selling 1,093 shares during the quarter. Profund Advisors LLC’s holdings in Kite Realty Group Trust were worth $224,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue raised its holdings in Kite Realty Group Trust by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock worth $2,745,000 after purchasing an additional 649 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Kite Realty Group Trust by 0.3% during the first quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock worth $5,973,000 after buying an additional 724 shares during the last quarter. United Services Automobile Association lifted its holdings in Kite Realty Group Trust by 4.6% in the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 777 shares during the period. UniSuper Management Pty Ltd lifted its holdings in Kite Realty Group Trust by 1.5% in the first quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock valued at $1,352,000 after buying an additional 900 shares during the period. Finally, Blue Trust Inc. boosted its stake in Kite Realty Group Trust by 42.7% in the second quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 992 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Piper Sandler increased their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research note on Friday, August 16th. Finally, KeyCorp lifted their price objective on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the sale, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Trading Up 0.3 %

NYSE:KRG opened at $26.25 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The business’s 50-day simple moving average is $25.38 and its 200-day simple moving average is $22.85. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15. The stock has a market capitalization of $5.76 billion, a PE ratio of 100.96, a price-to-earnings-growth ratio of 4.06 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s payout ratio is presently 400.00%.

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.