SouthState Corp Lowers Position in Kite Realty Group Trust (NYSE:KRG)

SouthState Corp reduced its stake in Kite Realty Group Trust (NYSE:KRG) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,385 shares of the real estate investment trust’s stock after selling 500 shares during the period. SouthState Corp’s holdings in Kite Realty Group Trust were worth $489,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of KRG. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at approximately $39,000. Versant Capital Management Inc raised its position in Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC acquired a new position in Kite Realty Group Trust during the fourth quarter worth $101,000. GAMMA Investing LLC boosted its position in shares of Kite Realty Group Trust by 15.8% during the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in shares of Kite Realty Group Trust by 19.6% in the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,210 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

KRG has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Raymond James cut their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 10th. Finally, Wells Fargo & Company decreased their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average price target of $28.13.

Kite Realty Group Trust Stock Up 1.7 %

Kite Realty Group Trust stock opened at $22.12 on Tuesday. The stock’s fifty day moving average is $22.87 and its two-hundred day moving average is $25.06. The stock has a market cap of $4.86 billion, a PE ratio of 1,106.20, a P/E/G ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. 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 (NYSE:KRG) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 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.