Envestnet Asset Management Inc. Raises Stock Position in Kite Realty Group Trust (NYSE:KRG)

Envestnet Asset Management Inc. lifted its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 244,272 shares of the real estate investment trust's stock after acquiring an additional 25,805 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Kite Realty Group Trust worth $6,165,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Kite Realty Group Trust in the third quarter worth $39,000. Versant Capital Management Inc boosted its position in Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 2,080 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new position in shares of Kite Realty Group Trust in the 4th quarter worth approximately $101,000. Headlands Technologies LLC bought a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $116,000. Finally, GAMMA Investing LLC grew its stake in Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust's stock worth $121,000 after purchasing an additional 652 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

KRG has been the subject of a number of analyst reports. Piper Sandler reaffirmed 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 report on Thursday, February 13th. Wells Fargo & Company dropped their price target 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. Raymond James decreased their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on shares of 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. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $27.88.

Kite Realty Group Trust Stock Performance

KRG traded down $0.19 during mid-day trading on Friday, reaching $21.70. 545,064 shares of the company traded hands, compared to its average volume of 1,636,712. The company's fifty day moving average price is $21.81 and its 200-day moving average price is $24.10. The stock has a market capitalization of $4.77 billion, a P/E ratio of 1,085.50, a P/E/G ratio of 3.57 and a beta of 1.05. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 52-week low of $18.52 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating 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, sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.

Kite Realty Group Trust Company Profile

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.