Thrivent Financial for Lutherans Sells 55,263 Shares of Kite Realty Group Trust $KRG

Thrivent Financial for Lutherans reduced its stake in Kite Realty Group Trust (NYSE:KRG) by 52.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,909 shares of the real estate investment trust’s stock after selling 55,263 shares during the period. Thrivent Financial for Lutherans’ holdings in Kite Realty Group Trust were worth $1,135,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KRG. Harbor Capital Advisors Inc. boosted its holdings in shares of Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 462 shares during the period. First Horizon Corp acquired a new stake in Kite Realty Group Trust during the third quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 740 shares during the period. Smallwood Wealth Investment Management LLC boosted its holdings in shares of Kite Realty Group Trust by 57.9% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 641 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Kite Realty Group Trust by 44.0% in the second quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 908 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

KRG opened at $25.05 on Friday. The firm has a market cap of $5.42 billion, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 6.32 and a beta of 0.91. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $25.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 0.98. The business’s fifty day moving average is $23.73 and its 200-day moving average is $22.80.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 9th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.16 annualized dividend and a yield of 4.6%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s payout ratio is 181.25%.

Analysts Set New Price Targets

Several research firms recently weighed in on KRG. Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Monday, December 29th. Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Jefferies Financial Group reissued a “hold” rating and issued a $24.00 target price (up previously from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, UBS Group reiterated a “neutral” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.43.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.