Kite Realty Group Trust (NYSE:KRG) Holdings Cut by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 80.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,633 shares of the real estate investment trust's stock after selling 283,586 shares during the period. Daiwa Securities Group Inc.'s holdings in Kite Realty Group Trust were worth $1,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KRG. Pineridge Advisors LLC bought a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $39,000. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust during the first quarter worth approximately $42,000. GAMMA Investing LLC boosted its holdings in Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust's stock worth $44,000 after buying an additional 1,204 shares in the last quarter. SageView Advisory Group LLC bought a new stake in Kite Realty Group Trust during the first quarter worth approximately $52,000. Finally, EntryPoint Capital LLC boosted its holdings in Kite Realty Group Trust by 109.6% during the first quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust's stock worth $59,000 after buying an additional 1,435 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Trading Up 1.5 %

Shares of NYSE:KRG traded up $0.39 during mid-day trading on Friday, hitting $26.83. The stock had a trading volume of 1,284,729 shares, compared to its average volume of 1,606,628. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $5.89 billion, a PE ratio of 103.19, a P/E/G ratio of 3.97 and a beta of 1.29. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $26.91. The company's 50 day moving average is $24.67 and its 200-day moving average is $22.50.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Wednesday, October 9th. This is an increase from Kite Realty Group Trust's previous quarterly dividend of $0.25. Kite Realty Group Trust's dividend payout ratio is 400.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. KeyCorp raised their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Robert W. Baird raised their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Finally, Piper Sandler raised their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $28.00.

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.