Cohen & Steers Inc. Lowers Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Cohen & Steers Inc. reduced its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,620,548 shares of the real estate investment trust's stock after selling 152,163 shares during the period. Cohen & Steers Inc. owned about 3.01% of Kite Realty Group Trust worth $167,103,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in Kite Realty Group Trust in the 3rd quarter valued at $39,000. Versant Capital Management Inc grew its stake in shares of Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 2,080 shares in the last quarter. FIL Ltd raised its holdings in shares of Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 579 shares during the last quarter. Spectrum Wealth Counsel LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter valued at about $101,000. Finally, Headlands Technologies LLC bought a new stake in Kite Realty Group Trust in the 4th quarter worth about $116,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

KRG stock traded up $0.32 during mid-day trading on Friday, reaching $21.36. 2,202,802 shares of the company traded hands, compared to its average volume of 1,641,532. The company has a fifty day moving average price of $21.90 and a 200-day moving average price of $24.22. Kite Realty Group Trust has a 52-week low of $18.52 and a 52-week high of $28.24. The company has a market capitalization of $4.69 billion, a P/E ratio of 1,067.80, a P/E/G ratio of 3.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. As a group, analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.06%. Kite Realty Group Trust's dividend payout ratio is currently 5,400.00%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KRG shares. Raymond James dropped their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research report on Monday, March 10th. Piper Sandler reiterated a "neutral" rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Wells Fargo & Company decreased their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and lowered their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and a consensus target price of $27.88.

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.