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

Corebridge Financial Inc. cut its stake in Kite Realty Group Trust (NYSE:KRG) by 5.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 354,997 shares of the real estate investment trust’s stock after selling 19,232 shares during the period. Corebridge Financial Inc.’s holdings in Kite Realty Group Trust were worth $8,960,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KRG. Vanguard Group Inc. boosted its holdings in shares of Kite Realty Group Trust by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust’s stock valued at $845,708,000 after purchasing an additional 256,476 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kite Realty Group Trust by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock valued at $150,865,000 after acquiring an additional 43,015 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Kite Realty Group Trust by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock valued at $94,039,000 after acquiring an additional 73,926 shares during the period. Franklin Resources Inc. increased its stake in Kite Realty Group Trust by 51.5% during the third quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after acquiring an additional 673,976 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Kite Realty Group Trust by 432.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock worth $36,150,000 after purchasing an additional 1,105,539 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $22.59 on Friday. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month 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. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 1,129.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The firm’s fifty day moving average price is $22.75 and its 200 day moving average price is $24.88.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 5,400.00%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KRG. Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James decreased their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Five research 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.88.

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.