KLP Kapitalforvaltning AS Sells 700 Shares of Kite Realty Group Trust $KRG

KLP Kapitalforvaltning AS trimmed its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,795 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Kite Realty Group Trust were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC bought a new position in Kite Realty Group Trust during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in Kite Realty Group Trust during the 1st quarter worth approximately $25,000. Ameritas Advisory Services LLC bought a new position in Kite Realty Group Trust during the 2nd quarter worth approximately $30,000. UMB Bank n.a. grew its position in Kite Realty Group Trust by 103.0% during the 2nd quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,323 shares during the last quarter. Finally, CX Institutional bought a new position in Kite Realty Group Trust during the 1st quarter worth approximately $79,000. 90.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KRG shares. UBS Group began coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price target on the stock. LADENBURG THALM/SH SH began coverage on Kite Realty Group Trust in a research report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price objective on the stock. Citigroup reiterated a “neutral” rating and issued a $24.00 price objective (down from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kite Realty Group Trust in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.50.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the completion of the transaction, the chief executive officer owned 54,121 shares in the company, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Trading Up 1.6%

KRG opened at $21.68 on Tuesday. The stock has a market cap of $4.77 billion, a PE ratio of 27.44, a PEG ratio of 5.91 and a beta of 1.15. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average of $22.16 and a 200-day moving average of $22.14. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $211.18 million during the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Equities research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.0%. Kite Realty Group Trust’s payout ratio is presently 136.71%.

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.