IFM Investors Pty Ltd Sells 8,192 Shares of Kite Realty Group Trust $KRG

IFM Investors Pty Ltd lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 18.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,422 shares of the real estate investment trust’s stock after selling 8,192 shares during the quarter. IFM Investors Pty Ltd’s holdings in Kite Realty Group Trust were worth $802,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its stake in shares of Kite Realty Group Trust by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust’s stock worth $1,376,000 after purchasing an additional 500 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Kite Realty Group Trust by 1.2% in the first quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust’s stock valued at $1,177,000 after acquiring an additional 600 shares during the period. Nissay Asset Management Corp Japan ADV grew its stake in Kite Realty Group Trust by 2.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 32,956 shares of the real estate investment trust’s stock valued at $737,000 after acquiring an additional 778 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Kite Realty Group Trust in the first quarter worth $25,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Kite Realty Group Trust during the first quarter worth about $25,000. Institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KRG shares. 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 report on Friday, September 12th. LADENBURG THALM/SH SH assumed coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price objective on the stock. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. UBS Group assumed coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Hold” and an average price target of $26.50.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $22.20 on Wednesday. The firm has a fifty day moving average price of $22.29 and a 200-day moving average price of $22.15. The stock has a market cap of $4.88 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 6.12 and a beta of 1.13. 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 current ratio of 1.70 and a quick ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $211.18 million for 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 analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be issued a $0.27 dividend. The ex-dividend date is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.9%. Kite Realty Group Trust’s payout ratio is 136.71%.

Insider Activity at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

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.