Kite Realty Group Trust (NYSE:KRG) Stock Holdings Lowered by Bernzott Capital Advisors

Bernzott Capital Advisors cut its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 9.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 242,930 shares of the real estate investment trust's stock after selling 26,200 shares during the period. Kite Realty Group Trust makes up approximately 3.0% of Bernzott Capital Advisors' holdings, making the stock its 19th largest holding. Bernzott Capital Advisors owned about 0.11% of Kite Realty Group Trust worth $6,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Eagle Asset Management Inc. purchased a new stake in shares of Kite Realty Group Trust during the third quarter worth about $7,486,000. Cerity Partners LLC grew its stake in Kite Realty Group Trust by 105.1% during the 3rd quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust's stock valued at $1,279,000 after purchasing an additional 24,679 shares in the last quarter. Versor Investments LP purchased a new stake in Kite Realty Group Trust during the 3rd quarter worth approximately $537,000. Systematic Financial Management LP raised its position in shares of Kite Realty Group Trust by 34.0% in the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust's stock valued at $15,410,000 after purchasing an additional 174,797 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Kite Realty Group Trust by 118.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust's stock valued at $2,784,000 after buying an additional 67,542 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on KRG shares. KeyCorp raised their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Robert W. Baird raised their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Jefferies Financial Group downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price target for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lowered 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 note on Wednesday. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Kite Realty Group Trust currently has an average rating of "Moderate Buy" and an average price target of $29.13.

Kite Realty Group Trust Price Performance

NYSE:KRG traded up $0.10 during midday trading on Friday, hitting $23.34. 2,349,386 shares of the stock were exchanged, compared to its average volume of 1,902,762. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -583.58, a P/E/G ratio of 3.17 and a beta of 1.29. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The business has a 50-day moving average price of $25.85 and a two-hundred day moving average price of $25.41.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, January 10th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, January 10th. This is an increase from Kite Realty Group Trust's previous quarterly dividend of $0.26. Kite Realty Group Trust's payout ratio is currently -2,700.00%.

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.