Kite Realty Group Trust (NYSE:KRG) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors grew its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 3.5% during the fourth quarter, Holdings Channel reports. The firm owned 18,214 shares of the real estate investment trust’s stock after purchasing an additional 613 shares during the period. Captrust Financial Advisors’ holdings in Kite Realty Group Trust were worth $460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Kite Realty Group Trust by 9.0% during the fourth quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust’s stock worth $95,543,000 after purchasing an additional 311,258 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Kite Realty Group Trust by 45.0% in the fourth quarter. BNP Paribas Financial Markets now owns 77,983 shares of the real estate investment trust’s stock valued at $1,968,000 after acquiring an additional 24,201 shares during the period. Ameriprise Financial Inc. grew its position in shares of Kite Realty Group Trust by 9.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,210,594 shares of the real estate investment trust’s stock worth $30,555,000 after acquiring an additional 102,665 shares during the last quarter. Algert Global LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $7,252,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Kite Realty Group Trust in the 4th quarter valued at $225,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 0.6%

NYSE KRG opened at $23.02 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.06 billion, a P/E ratio of 1,151.00, a P/E/G ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a 52-week low of $18.52 and a 52-week high of $28.24. The firm has a 50-day moving average price of $21.82 and a 200 day moving average price of $23.66.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. The company had revenue of $221.76 million for the quarter, compared to analysts’ expectations of $211.07 million. Equities research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust’s dividend payout ratio is currently 1,542.86%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KRG shares. Raymond James lowered their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and a consensus target price 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.