Kite Realty Group Trust (NYSE:KRG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in Kite Realty Group Trust (NYSE:KRG) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 307,952 shares of the real estate investment trust’s stock after selling 73,012 shares during the period. Wellington Management Group LLP owned approximately 0.14% of Kite Realty Group Trust worth $7,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Duality Advisers LP acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at about $973,000. LSV Asset Management increased its holdings in Kite Realty Group Trust by 33.4% during the 4th quarter. LSV Asset Management now owns 917,000 shares of the real estate investment trust’s stock valued at $20,963,000 after acquiring an additional 229,788 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kite Realty Group Trust by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock valued at $76,448,000 after acquiring an additional 90,897 shares in the last quarter. Walleye Trading LLC purchased a new position in Kite Realty Group Trust during the 3rd quarter valued at about $1,349,000. Finally, Balyasny Asset Management L.P. increased its holdings in Kite Realty Group Trust by 28.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after acquiring an additional 693,852 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.00.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $22.37 on Friday. The company has a market cap of $4.91 billion, a PE ratio of 86.04, a price-to-earnings-growth ratio of 5.48 and a beta of 1.28. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $24.26. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.72 and a quick ratio of 2.72. The company has a 50-day simple moving average of $21.56 and a 200-day simple moving average of $21.57.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.47%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 384.63%.

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.