VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Kite Realty Group Trust $KRG

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Kite Realty Group Trust (NYSE:KRG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 319,627 shares of the real estate investment trust’s stock, valued at approximately $7,240,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.15% of Kite Realty Group Trust as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System lifted its holdings in Kite Realty Group Trust by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust’s stock valued at $1,376,000 after buying an additional 500 shares during the period. Truist Financial Corp raised its holdings in shares of Kite Realty Group Trust by 5.3% during the second quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 503 shares during the period. State of Michigan Retirement System raised its holdings in shares of Kite Realty Group Trust by 1.2% during 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 purchasing an additional 600 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Kite Realty Group Trust by 0.5% during the second quarter. State of Alaska Department of Revenue now owns 131,664 shares of the real estate investment trust’s stock valued at $2,981,000 after purchasing an additional 641 shares during the period. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Kite Realty Group Trust by 3.1% during the second quarter. Verdence Capital Advisors LLC now owns 22,302 shares of the real estate investment trust’s stock valued at $505,000 after purchasing an additional 661 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the completion of the sale, the chief executive officer directly owned 54,121 shares of the company’s stock, valued at approximately $1,228,546.70. This represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

KRG has been the topic of several research reports. Piper Sandler reiterated a “neutral” rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Citigroup reiterated a “neutral” rating and set a $24.00 price objective (down previously from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. UBS Group initiated coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.50.

Kite Realty Group Trust Trading Up 1.0%

NYSE:KRG opened at $22.54 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a 50-day moving average of $22.24 and a 200-day moving average of $22.14. The company has a market cap of $4.96 billion, a PE ratio of 28.53, a PEG ratio of 6.18 and a beta of 1.15. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24.

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 analysts’ consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The business had revenue of $211.18 million during the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, equities research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Thursday, October 9th. Kite Realty Group Trust’s dividend 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.