HighTower Advisors LLC Has $655,000 Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

HighTower Advisors LLC increased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 11.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,968 shares of the real estate investment trust’s stock after buying an additional 2,582 shares during the period. HighTower Advisors LLC’s holdings in Kite Realty Group Trust were worth $655,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kite Realty Group Trust by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,621 shares of the real estate investment trust’s stock worth $3,650,000 after buying an additional 48,480 shares during the period. AlphaQuest LLC boosted its stake in shares of Kite Realty Group Trust by 291.6% in the 4th quarter. AlphaQuest LLC now owns 93,055 shares of the real estate investment trust’s stock valued at $2,349,000 after purchasing an additional 69,295 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Kite Realty Group Trust by 5.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,542 shares of the real estate investment trust’s stock valued at $342,000 after purchasing an additional 667 shares during the last quarter. Edgestream Partners L.P. increased its position in Kite Realty Group Trust by 619.5% during the 4th quarter. Edgestream Partners L.P. now owns 262,390 shares of the real estate investment trust’s stock worth $6,623,000 after purchasing an additional 225,922 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Kite Realty Group Trust during the 4th quarter worth approximately $19,632,000. Institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company decreased their price objective 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. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Raymond James decreased their target price 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. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $22.27 on Friday. The stock has a 50-day moving average of $22.73 and a 200-day moving average of $24.85. The company has a market cap of $4.89 billion, a PE ratio of 1,113.50, a P/E/G ratio of 3.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24.

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

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 5,400.00%.

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.