Commonwealth Equity Services LLC Reduces Holdings in Kite Realty Group Trust (NYSE:KRG)

Commonwealth Equity Services LLC lowered its stake in Kite Realty Group Trust (NYSE:KRG) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,069 shares of the real estate investment trust’s stock after selling 1,432 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Kite Realty Group Trust were worth $2,299,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kite Realty Group Trust in the third quarter valued at $39,000. Versant Capital Management Inc grew its holdings in Kite Realty Group Trust by 551.7% in 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 buying an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC acquired a new position in shares of Kite Realty Group Trust during the 4th quarter valued at about $101,000. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division boosted its position in shares of Kite Realty Group Trust by 19.6% in 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 acquiring an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

KRG stock opened at $22.59 on Friday. The stock has a 50-day simple moving average of $22.75 and a 200-day simple moving average of $24.88. The firm has a market cap of $4.96 billion, a P/E ratio of 1,129.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.78%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Raymond James cut their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 10th. JPMorgan Chase & Co. reduced their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Piper Sandler restated a “neutral” rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.88.

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.