Truist Financial Corp Reduces Stock Position in Kite Realty Group Trust (NYSE:KRG)

Truist Financial Corp reduced its holdings in Kite Realty Group Trust (NYSE:KRG) by 4.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,898 shares of the real estate investment trust’s stock after selling 6,069 shares during the period. Truist Financial Corp owned approximately 0.15% of Kite Realty Group Trust worth $2,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of KRG. Amundi Pioneer Asset Management Inc. grew its stake in shares of Kite Realty Group Trust by 6.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 42,188 shares of the real estate investment trust’s stock worth $674,000 after buying an additional 2,579 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in shares of Kite Realty Group Trust by 29.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 40,289 shares of the real estate investment trust’s stock worth $887,000 after acquiring an additional 9,143 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth about $692,000. Envestnet Asset Management Inc. lifted its holdings in shares of Kite Realty Group Trust by 12.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,867 shares of the real estate investment trust’s stock worth $701,000 after acquiring an additional 3,417 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth about $243,000. 39.61% of the stock is owned by institutional investors and hedge funds.

In other news, CEO John A. Kite sold 25,000 shares of the stock in a transaction on Tuesday, December 21st. The stock was sold at an average price of $20.93, for a total transaction of $523,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Shares of NYSE:KRG opened at $22.26 on Friday. Kite Realty Group Trust has a 52-week low of $15.52 and a 52-week high of $23.14. The stock has a market cap of $4.88 billion, a P/E ratio of 171.24, a price-to-earnings-growth ratio of 1.70 and a beta of 1.37. The business’s 50 day moving average is $21.49 and its 200 day moving average is $21.00. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 1.07.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Thursday, October 28th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.41). Kite Realty Group Trust had a net margin of 3.80% and a return on equity of 0.87%. During the same period in the prior year, the firm posted $0.30 EPS. On average, sell-side analysts anticipate that Kite Realty Group Trust will post 1.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Friday, January 7th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, January 6th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.18. Kite Realty Group Trust’s dividend payout ratio (DPR) is 584.66%.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a report on Tuesday, November 23rd. Jefferies Financial Group assumed coverage on shares of Kite Realty Group Trust in a report on Wednesday, October 27th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Robert W. Baird upgraded shares of Kite Realty Group Trust from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $24.00 in a report on Thursday. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $25.29.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust operates as a real estate investment trust. It engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded on August 16, 2004 and is headquartered in Indianapolis, IN.

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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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