Alliancebernstein L.P. Sells 20,873 Shares of Kite Realty Group Trust (NYSE:KRG)

Alliancebernstein L.P. lessened its position in Kite Realty Group Trust (NYSE:KRG) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 498,567 shares of the real estate investment trust’s stock after selling 20,873 shares during the period. Alliancebernstein L.P.’s holdings in Kite Realty Group Trust were worth $12,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Kite Realty Group Trust in the 3rd quarter worth $39,000. Versant Capital Management Inc grew its position 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 worth $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 in the 4th quarter worth $101,000. GAMMA Investing LLC grew its position in Kite Realty Group Trust by 15.8% in 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 last quarter. Finally, Central Pacific Bank Trust Division grew 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. Institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on KRG shares. Wells Fargo & Company decreased 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 report on Wednesday, March 26th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price target for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. 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 on the stock in a research report on Monday, March 10th. Finally, 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. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.88.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $20.63 on Thursday. The firm has a market cap of $4.53 billion, a PE ratio of 1,031.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $22.23 and its two-hundred day moving average price is $24.47.

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

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be given 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 5.24%. 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.