Blue Trust Inc. Reduces Holdings in Kite Realty Group Trust (NYSE:KRG)

Blue Trust Inc. trimmed its stake in Kite Realty Group Trust (NYSE:KRG) by 56.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,882 shares of the real estate investment trust’s stock after selling 3,751 shares during the period. Blue Trust Inc.’s holdings in Kite Realty Group Trust were worth $73,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KRG. Wilmington Savings Fund Society FSB purchased a new position in shares of Kite Realty Group Trust in the 3rd quarter valued at $39,000. Versant Capital Management Inc boosted its stake 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 worth $62,000 after purchasing an additional 2,080 shares during the period. GAMMA Investing LLC boosted its stake in Kite Realty Group Trust by 15.8% during the 4th 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. Central Pacific Bank Trust Division boosted its stake in Kite Realty Group Trust by 19.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 1,210 shares during the period. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth $203,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Robert W. Baird raised their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company reduced their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced 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. Finally, KeyCorp raised their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $21.92 on Monday. The company has a market cap of $4.82 billion, a PE ratio of 1,096.15, a price-to-earnings-growth ratio of 3.57 and a beta of 1.27. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The company has a 50-day simple moving average of $23.78 and a 200-day simple moving average of $25.38.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS 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%. On average, equities 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.93%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 5,400.00%.

Kite Realty Group Trust 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.