VIRGINIA RETIREMENT SYSTEMS ET Al Sells 136,200 Shares of Kite Realty Group Trust $KRG

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in Kite Realty Group Trust (NYSE:KRG) by 42.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,427 shares of the real estate investment trust’s stock after selling 136,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of Kite Realty Group Trust worth $4,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Wyoming increased its holdings in shares of Kite Realty Group Trust by 136.1% during the first quarter. State of Wyoming now owns 4,712 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 2,716 shares in the last quarter. EP Wealth Advisors LLC grew its position in Kite Realty Group Trust by 21.2% in the 1st quarter. EP Wealth Advisors LLC now owns 11,825 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 2,071 shares during the period. Alyeska Investment Group L.P. acquired a new position in Kite Realty Group Trust during the first quarter worth $24,727,000. Amundi lifted its stake in shares of Kite Realty Group Trust by 7.1% in the first quarter. Amundi now owns 125,896 shares of the real estate investment trust’s stock valued at $2,719,000 after buying an additional 8,297 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Kite Realty Group Trust by 32.2% during the first quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock valued at $1,797,000 after buying an additional 19,731 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KRG shares. Citigroup restated a “neutral” rating and issued a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Jefferies Financial Group reiterated a “hold” rating and set a $24.00 price target (up previously from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Finally, Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.50.

Kite Realty Group Trust Price Performance

KRG opened at $23.98 on Friday. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 6.04 and a beta of 0.89. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $22.92 and a 200-day moving average price of $22.55. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $25.40.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Kite Realty Group Trust had a return on equity of 4.27% and a net margin of 16.34%.The company had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Equities analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 9th will be given a dividend of $0.29 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.8%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 168.75%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.