Nisa Investment Advisors LLC Cuts Stock Holdings in Kite Realty Group Trust $KRG

Nisa Investment Advisors LLC reduced its position in shares of Kite Realty Group Trust (NYSE:KRG) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,374 shares of the real estate investment trust’s stock after selling 9,214 shares during the period. Nisa Investment Advisors LLC’s holdings in Kite Realty Group Trust were worth $3,927,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new position in Kite Realty Group Trust during the first quarter worth about $25,000. Ameritas Advisory Services LLC purchased a new position in Kite Realty Group Trust during the second quarter worth about $30,000. UMB Bank n.a. raised its holdings in Kite Realty Group Trust by 103.0% during the second quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,323 shares in the last quarter. Blue Trust Inc. raised its holdings in Kite Realty Group Trust by 44.0% during the second quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 908 shares in the last quarter. Finally, Dagco Inc. purchased a new position in Kite Realty Group Trust during the first quarter worth about $92,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the sale, the chief executive officer directly owned 54,121 shares in the company, valued at $1,228,546.70. This represents a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price target for the company. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kite Realty Group Trust in a report on Wednesday, October 8th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $24.00 target price (down from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.70.

Kite Realty Group Trust Stock Down 1.8%

KRG stock opened at $22.23 on Thursday. The company’s 50 day simple moving average is $22.40 and its 200-day simple moving average is $22.27. The firm has a market capitalization of $4.89 billion, a PE ratio of 28.14, a P/E/G ratio of 6.27 and a beta of 1.15. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Equities analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 9th will be given a $0.29 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 136.71%.

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.