Principal Financial Group Inc. Sells 362,749 Shares of Kite Realty Group Trust (NYSE:KRG)

Principal Financial Group Inc. decreased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 41.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 509,587 shares of the real estate investment trust’s stock after selling 362,749 shares during the period. Principal Financial Group Inc. owned about 0.23% of Kite Realty Group Trust worth $13,535,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. UMB Bank n.a. boosted its holdings in Kite Realty Group Trust by 819.0% during the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 950 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Kite Realty Group Trust during the third quarter worth about $45,000. GAMMA Investing LLC grew its position in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,204 shares in the last quarter. Quarry LP increased its stake in Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,167 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $52,000. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

KRG has been the subject of several recent analyst reports. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Robert W. Baird raised their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday. KeyCorp boosted their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Piper Sandler increased their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

Kite Realty Group Trust Stock Down 0.6 %

KRG opened at $26.69 on Friday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.94. The company has a market cap of $5.86 billion, a PE ratio of -667.25, a price-to-earnings-growth ratio of 4.16 and a beta of 1.29. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The company has a 50 day moving average of $26.31 and a 200 day moving average of $24.15.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 4.05%. Kite Realty Group Trust’s payout ratio is -2,600.00%.

Insider Activity at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Kite Realty Group Trust 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.