Kite Realty Group Trust (NYSE:KRG) Holdings Lifted by LPL Financial LLC

LPL Financial LLC boosted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 29.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,625 shares of the real estate investment trust’s stock after buying an additional 30,692 shares during the period. LPL Financial LLC’s holdings in Kite Realty Group Trust were worth $3,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter valued at $39,000. Versant Capital Management Inc boosted its position in Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,080 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new stake in Kite Realty Group Trust during the fourth quarter valued at $101,000. GAMMA Investing LLC grew its stake in Kite Realty Group Trust by 15.8% in the fourth 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 in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in Kite Realty Group Trust by 19.6% in 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 last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Trading Up 1.0 %

Shares of NYSE:KRG opened at $20.47 on Friday. The company has a market cap of $4.50 billion, a P/E ratio of 1,023.40, a P/E/G ratio of 3.57 and a beta of 1.05. The stock’s 50-day moving average is $22.13 and its 200-day moving average is $24.38. 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 52-week low of $18.52 and a 52-week high of $28.24.

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

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid 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 yield of 5.28%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Wall Street Analysts Forecast Growth

KRG has been the subject of several research reports. Piper Sandler reiterated a “neutral” rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. 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 for the company in a research note on Wednesday, January 15th. Finally, Raymond James lowered their target price 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 report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.88.

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.