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

Principal Financial Group Inc. reduced its position in Kite Realty Group Trust (NYSE:KRG) by 41.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Kite Realty Group Trust in the 3rd quarter worth about $39,000. Strategic Investment Solutions Inc. IL acquired a new stake in Kite Realty Group Trust in the third quarter valued at approximately $45,000. Quarry LP increased its position in shares of Kite Realty Group Trust by 108.4% in the second 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Kite Realty Group Trust by 110.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,135 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 2,170 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Trading Down 1.0 %

KRG opened at $25.05 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The company’s 50 day simple moving average is $26.48 and its two-hundred day simple moving average is $25.24. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -626.25, a price-to-earnings-growth ratio of 3.81 and a beta of 1.28. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. 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 dividend on an annualized basis and a dividend yield of 4.31%. Kite Realty Group Trust’s dividend payout ratio is currently -2,600.00%.

Analyst Ratings Changes

Several brokerages recently commented on KRG. Robert W. Baird boosted their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Compass Point boosted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler lifted their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, KeyCorp increased their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.86.

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.