Principal Financial Group Inc. Sells 76,322 Shares of Kite Realty Group Trust (NYSE:KRG)

Principal Financial Group Inc. trimmed its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 872,336 shares of the real estate investment trust's stock after selling 76,322 shares during the period. Principal Financial Group Inc. owned approximately 0.40% of Kite Realty Group Trust worth $19,523,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pineridge Advisors LLC acquired a new position in shares of Kite Realty Group Trust during the fourth quarter worth approximately $39,000. Fidelis Capital Partners LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at approximately $42,000. GAMMA Investing LLC lifted its holdings in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 1,204 shares during the period. SageView Advisory Group LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at approximately $52,000. Finally, EntryPoint Capital LLC lifted its holdings in Kite Realty Group Trust by 109.6% in the first quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust's stock valued at $59,000 after buying an additional 1,435 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Up 0.3 %

Shares of KRG stock traded up $0.07 during trading hours on Wednesday, hitting $25.92. 857,159 shares of the company were exchanged, compared to its average volume of 1,631,439. The business has a 50 day moving average of $24.04 and a two-hundred day moving average of $22.24. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $26.33. The company has a market capitalization of $5.69 billion, a PE ratio of 99.81, a PEG ratio of 3.99 and a beta of 1.31.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. This is an increase from Kite Realty Group Trust's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 annualized dividend and a dividend yield of 4.01%. Kite Realty Group Trust's dividend payout ratio is currently 384.63%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KRG shares. Piper Sandler increased their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Tuesday. Robert W. Baird increased their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Compass Point increased their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Raymond James upgraded shares of Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price on the stock in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Kite Realty Group Trust 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.