IFM Investors Pty Ltd Has $976,000 Holdings in Kite Realty Group Trust $KRG

by · The Cerbat Gem

IFM Investors Pty Ltd lessened its holdings in shares of Kite Realty Group Trust (NYSE:KRG – Free Report) by 12.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,614 shares of the real estate investment trust’s stock after selling 6,379 shares during the period. IFM Investors Pty Ltd’s holdings in Kite Realty Group Trust were worth $976,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in shares of Kite Realty Group Trust by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust’s stock worth $1,376,000 after acquiring an additional 500 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Kite Realty Group Trust by 1.8% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust’s stock worth $806,000 after acquiring an additional 556 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Kite Realty Group Trust by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust’s stock worth $1,177,000 after acquiring an additional 600 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Kite Realty Group Trust by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 18,214 shares of the real estate investment trust’s stock worth $460,000 after acquiring an additional 613 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Kite Realty Group Trust during the 1st quarter worth approximately $25,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group assumed coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price target on the stock. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Wells Fargo & Company reduced their price target on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. Piper Sandler reiterated a “neutral” rating and set a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Finally, Citigroup reissued a “neutral” rating and issued a $24.00 price objective (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust currently has a consensus rating of “Hold” and an average target price of $26.50.

Check Out Our Latest Report on Kite Realty Group Trust

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is currently owned by insiders.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $22.56 on Friday. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 6.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a 50 day simple moving average of $22.33 and a 200 day simple moving average of $22.18. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24.

Kite Realty Group Trust (NYSE:KRG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $211.18 million during the quarter, compared to the consensus estimate of $211.74 million. 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 2.060-2.100 EPS. Research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.08 annualized dividend and a yield of 4.8%. Kite Realty Group Trust’s dividend payout ratio is presently 136.71%.

About Kite Realty Group Trust

(Free Report)

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.

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