Truist Financial Corp Sells 11,771 Shares of Kite Realty Group Trust (NYSE:KRG)

Truist Financial Corp trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,803 shares of the real estate investment trust’s stock after selling 11,771 shares during the quarter. Truist Financial Corp’s holdings in Kite Realty Group Trust were worth $2,396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KRG. Verdence Capital Advisors LLC increased its position in shares of Kite Realty Group Trust by 4.1% in the third quarter. Verdence Capital Advisors LLC now owns 14,619 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 576 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Kite Realty Group Trust by 3.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,877 shares of the real estate investment trust’s stock worth $1,690,000 after buying an additional 2,479 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Kite Realty Group Trust by 1,053.1% during the 3rd quarter. Mackenzie Financial Corp now owns 402,378 shares of the real estate investment trust’s stock valued at $8,217,000 after buying an additional 367,482 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kite Realty Group Trust by 2.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,939 shares of the real estate investment trust’s stock worth $2,248,000 after acquiring an additional 2,024 shares during the last quarter. Finally, Advisor Partners II LLC grew its position in Kite Realty Group Trust by 9.0% in the third quarter. Advisor Partners II LLC now owns 13,560 shares of the real estate investment trust’s stock worth $290,000 after acquiring an additional 1,123 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Trading Down 1.6 %

NYSE KRG opened at $21.23 on Thursday. The firm has a market cap of $4.66 billion, a PE ratio of 81.64, a price-to-earnings-growth ratio of 3.03 and a beta of 1.28. Kite Realty Group Trust has a 1-year low of $19.16 and a 1-year high of $24.26. The stock has a 50-day moving average of $21.04 and a 200-day moving average of $21.44. The company has a current ratio of 2.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.90.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.00 annualized dividend and a yield of 4.71%. Kite Realty Group Trust’s payout ratio is currently 384.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Thursday, April 18th. StockNews.com upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.00.

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.