Alliancebernstein L.P. cut its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 498,567 shares of the real estate investment trust's stock after selling 20,873 shares during the quarter. Alliancebernstein L.P. owned approximately 0.23% of Kite Realty Group Trust worth $12,584,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in Kite Realty Group Trust during the third quarter worth about $39,000. Versant Capital Management Inc raised its stake in shares of 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 worth $62,000 after purchasing an additional 2,080 shares in the last quarter. Spectrum Wealth Counsel LLC acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $101,000. GAMMA Investing LLC grew its stake in shares of 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 valued at $121,000 after buying an additional 652 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in Kite Realty Group Trust by 19.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust's stock worth $187,000 after buying an additional 1,210 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
KRG has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Piper Sandler restated a "neutral" rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price target for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Raymond James cut their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research report on Monday, March 10th. Finally, Wells Fargo & Company lowered their target price on 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. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.88.
Check Out Our Latest Research Report on Kite Realty Group Trust
Kite Realty Group Trust Price Performance
NYSE KRG traded up $0.23 during midday trading on Tuesday, hitting $20.82. The company had a trading volume of 192,214 shares, compared to its average volume of 1,639,024. The company has a market capitalization of $4.57 billion, a PE ratio of 1,039.55, a P/E/G ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a twelve month low of $17.73 and a twelve month high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $22.08 and a 200-day moving average price of $24.33.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings results 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%. As a group, analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.
Kite Realty Group Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 5.19%. Kite Realty Group Trust's payout ratio is 5,400.00%.
Kite Realty Group Trust Company Profile
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Free Report)
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.
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