Charles Schwab Investment Management Inc. Sells 29,732 Shares of Kite Realty Group Trust (NYSE:KRG)

Charles Schwab Investment Management Inc. decreased its position in shares of Kite Realty Group Trust (NYSE:KRG) by 0.8% during the 1st quarter, Holdings Channel reports. The fund owned 3,696,051 shares of the real estate investment trust’s stock after selling 29,732 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Kite Realty Group Trust were worth $82,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KRG. Centersquare Investment Management LLC boosted its stake in Kite Realty Group Trust by 133.6% during the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after acquiring an additional 3,408,442 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Kite Realty Group Trust by 332.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust’s stock valued at $33,776,000 after buying an additional 1,160,694 shares in the last quarter. Raymond James Financial Inc. bought a new position in Kite Realty Group Trust in the fourth quarter valued at approximately $19,632,000. Deutsche Bank AG lifted its stake in Kite Realty Group Trust by 232.4% in the fourth quarter. Deutsche Bank AG now owns 1,048,441 shares of the real estate investment trust’s stock valued at $26,463,000 after buying an additional 733,015 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Kite Realty Group Trust by 17.1% in the fourth quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust’s stock valued at $98,074,000 after buying an additional 567,284 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $21.70 on Thursday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The company has a market capitalization of $4.77 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 6.44 and a beta of 1.16. The firm’s 50 day moving average is $22.41 and its 200-day moving average is $22.25.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The company had revenue of $211.18 million for the quarter, compared to the consensus estimate of $211.74 million. Equities research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be issued a $0.27 dividend. The ex-dividend date is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.0%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 136.71%.

Analyst Upgrades and Downgrades

KRG has been the topic of a number of research reports. UBS Group initiated coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target on the stock. Raymond James Financial cut their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Friday, May 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Finally, Wall Street Zen lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.11.

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.