Kite Realty Group Trust (NYSE:KRG) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in Kite Realty Group Trust (NYSE:KRG) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,597 shares of the real estate investment trust’s stock after selling 6,400 shares during the period. Swiss National Bank owned approximately 0.19% of Kite Realty Group Trust worth $9,521,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in Kite Realty Group Trust in the first quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in Kite Realty Group Trust in the first quarter valued at $25,000. Optiver Holding B.V. increased its holdings in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 467 shares during the last quarter. CX Institutional purchased a new position in Kite Realty Group Trust in the first quarter valued at $79,000. Finally, GF Fund Management CO. LTD. purchased a new position in Kite Realty Group Trust in the fourth quarter valued at $101,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $21.51 on Friday. The stock’s 50-day moving average is $22.38 and its two-hundred day moving average is $22.22. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 6.50 and a beta of 1.16. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on KRG shares. Wall Street Zen lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, June 27th. UBS Group started coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 target price on the stock. Raymond James Financial dropped their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Friday, May 23rd. Finally, Piper Sandler reissued a “neutral” rating and issued a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and a consensus price target of $27.11.

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.