Kite Realty Group Trust (NYSE:KRG) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in Kite Realty Group Trust (NYSE:KRG) by 2.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,417,447 shares of the real estate investment trust’s stock after selling 28,856 shares during the quarter. Legal & General Group Plc’s holdings in Kite Realty Group Trust were worth $35,776,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KRG. FMR LLC raised its holdings in Kite Realty Group Trust by 2.6% during the 3rd quarter. FMR LLC now owns 28,610 shares of the real estate investment trust’s stock worth $760,000 after buying an additional 737 shares during the period. HighTower Advisors LLC raised its holdings in shares of Kite Realty Group Trust by 42.5% during the third quarter. HighTower Advisors LLC now owns 23,386 shares of the real estate investment trust’s stock valued at $616,000 after acquiring an additional 6,976 shares during the period. Quantinno Capital Management LP lifted its position in shares of Kite Realty Group Trust by 22.8% in the 3rd quarter. Quantinno Capital Management LP now owns 30,071 shares of the real estate investment trust’s stock valued at $799,000 after acquiring an additional 5,586 shares in the last quarter. Jane Street Group LLC boosted its stake in Kite Realty Group Trust by 26.5% in the 3rd quarter. Jane Street Group LLC now owns 296,455 shares of the real estate investment trust’s stock worth $7,874,000 after purchasing an additional 62,113 shares during the period. Finally, Barclays PLC grew its position in Kite Realty Group Trust by 29.0% during the 3rd quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust’s stock worth $25,139,000 after purchasing an additional 212,983 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KRG has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James decreased their price target on shares of 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. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price objective for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, 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 for the company in a research note on Wednesday, January 15th. 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 company. Based on data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.88.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $20.47 on Friday. The stock has a market capitalization 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 business has a 50-day moving average of $22.13 and a two-hundred day moving average of $24.38. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24. 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 (NYSE:KRG) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 5.28%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 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.