Vanguard Group Inc. Cuts Stock Position in Kite Realty Group Trust (NYSE:KRG)

Vanguard Group Inc. lowered its position in Kite Realty Group Trust (NYSE:KRG) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,293,387 shares of the real estate investment trust’s stock after selling 213,261 shares during the period. Vanguard Group Inc. owned approximately 0.15% of Kite Realty Group Trust worth $744,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter worth approximately $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter worth approximately $25,000. Optiver Holding B.V. grew its position in Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 467 shares during the last quarter. CX Institutional purchased a new stake in Kite Realty Group Trust during the 1st quarter worth approximately $79,000. Finally, FIL Ltd grew its position in Kite Realty Group Trust by 19.8% during the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 1.2%

KRG stock opened at $21.22 on Wednesday. The firm’s fifty day simple moving average is $22.42 and its 200-day simple moving average is $22.25. The company has a market capitalization of $4.67 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 6.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24.

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

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.1%. Kite Realty Group Trust’s payout ratio is presently 136.71%.

Analyst Upgrades and Downgrades

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

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.