HighTower Advisors LLC Grows Position in Kite Realty Group Trust (NYSE:KRG)

HighTower Advisors LLC increased its holdings in Kite Realty Group Trust (NYSE:KRG) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,968 shares of the real estate investment trust’s stock after acquiring an additional 2,582 shares during the period. HighTower Advisors LLC’s holdings in Kite Realty Group Trust were worth $655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Kite Realty Group Trust during the third quarter worth about $39,000. Versant Capital Management Inc grew its stake 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 in the last quarter. Spectrum Wealth Counsel LLC purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth $101,000. GAMMA Investing LLC raised its stake 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 valued at $121,000 after purchasing an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division grew its holdings 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 valued at $187,000 after buying an additional 1,210 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Kite Realty Group Trust Stock Down 1.4 %

NYSE KRG opened at $22.27 on Friday. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The stock has a market capitalization of $4.89 billion, a PE ratio of 1,113.50, a PEG 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. The business’s 50-day moving average is $22.73 and its 200 day moving average is $24.85.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results 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 return on equity of 0.12% and a net margin of 0.48%. Sell-side analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend 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 is currently 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.