Commonwealth Equity Services LLC Reduces Stock Position in Kite Realty Group Trust (NYSE:KRG)

Commonwealth Equity Services LLC reduced its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,069 shares of the real estate investment trust’s stock after selling 1,432 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Kite Realty Group Trust were worth $2,299,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. EMC Capital Management increased its holdings in Kite Realty Group Trust by 4.9% in the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 447 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Kite Realty Group Trust by 2.6% in the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock worth $465,000 after acquiring an additional 466 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Kite Realty Group Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock valued at $2,554,000 after acquiring an additional 483 shares during the last quarter. Arizona State Retirement System raised its position in shares of Kite Realty Group Trust by 0.8% during the 4th quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust’s stock valued at $1,609,000 after acquiring an additional 516 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Kite Realty Group Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 129,014 shares of the real estate investment trust’s stock worth $3,255,000 after purchasing an additional 636 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler reiterated a “neutral” rating and set a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Raymond James decreased their target price on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company dropped 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 research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $22.59 on Friday. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The company has a market cap of $4.96 billion, a PE ratio of 1,129.60, a P/E/G ratio of 3.57 and a beta of 1.30. The stock has a 50 day simple moving average of $22.75 and a 200-day simple moving average of $24.88. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, equities research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be given a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.78%. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

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.