Kite Realty Group Trust (NYSE:KRG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Kite Realty Group Trust (NYSE:KRG) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 504,276 shares of the real estate investment trust’s stock after selling 5,311 shares during the period. Principal Financial Group Inc. owned about 0.23% of Kite Realty Group Trust worth $12,728,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Creative Planning raised its stake in Kite Realty Group Trust by 8.1% in the 3rd quarter. Creative Planning now owns 21,784 shares of the real estate investment trust’s stock valued at $579,000 after purchasing an additional 1,634 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Kite Realty Group Trust by 5.8% during the third quarter. Raymond James & Associates now owns 138,286 shares of the real estate investment trust’s stock worth $3,673,000 after buying an additional 7,554 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kite Realty Group Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,524 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 2,199 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Kite Realty Group Trust by 3.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 51,927 shares of the real estate investment trust’s stock valued at $1,344,000 after buying an additional 1,737 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of Kite Realty Group Trust by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock valued at $3,408,000 after buying an additional 484 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on KRG. JPMorgan Chase & Co. cut their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Robert W. Baird raised their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Piper Sandler restated a “neutral” rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.13.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $22.15 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The firm has a market capitalization of $4.87 billion, a P/E ratio of 1,107.40, a P/E/G ratio of 3.57 and a beta of 1.27. The business’s 50-day simple moving average is $23.57 and its 200-day simple moving average is $25.33.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Equities analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 4.88%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

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.