Kite Realty Group Trust (NYSE:KRG) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 40.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,205,397 shares of the real estate investment trust's stock after selling 802,928 shares during the period. American Century Companies Inc. owned about 0.55% of Kite Realty Group Trust worth $30,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KRG. Proficio Capital Partners LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at about $1,180,000. Charles Schwab Investment Management Inc. lifted its holdings in Kite Realty Group Trust by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust's stock valued at $94,039,000 after acquiring an additional 73,926 shares during the period. Raymond James Financial Inc. purchased a new stake in Kite Realty Group Trust in the 4th quarter worth approximately $19,632,000. New York State Common Retirement Fund grew its stake in shares of Kite Realty Group Trust by 18.6% during the 4th quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust's stock worth $2,741,000 after purchasing an additional 17,015 shares during the period. Finally, Aew Capital Management L P purchased a new position in shares of Kite Realty Group Trust during the 4th quarter valued at approximately $31,663,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KRG. Raymond James lowered their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a report on Monday, March 10th. Wells Fargo & Company lowered their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price target for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Piper Sandler reiterated a "neutral" rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.88.

Kite Realty Group Trust Trading Up 2.0 %

Shares of NYSE:KRG traded up $0.44 during midday trading on Wednesday, reaching $22.90. 1,235,046 shares of the company's stock were exchanged, compared to its average volume of 1,595,817. The firm's 50 day simple moving average is $22.68 and its two-hundred day simple moving average is $24.76. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 1,145.00, a P/E/G ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.72%. Kite Realty Group Trust's dividend payout ratio (DPR) 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.