Los Angeles Capital Management LLC Cuts Stake in Kite Realty Group Trust (NYSE:KRG)

Los Angeles Capital Management LLC cut its stake in Kite Realty Group Trust (NYSE:KRG) by 40.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,971 shares of the real estate investment trust’s stock after selling 10,835 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Kite Realty Group Trust were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Eagle Asset Management Inc. acquired a new position in Kite Realty Group Trust in the 3rd quarter valued at $7,486,000. Cerity Partners LLC lifted its stake in Kite Realty Group Trust by 105.1% in the 3rd quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock worth $1,279,000 after purchasing an additional 24,679 shares in the last quarter. Versor Investments LP acquired a new position in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $537,000. Vanderbilt University increased its holdings in shares of Kite Realty Group Trust by 115.2% in the fourth quarter. Vanderbilt University now owns 32,411 shares of the real estate investment trust’s stock valued at $818,000 after purchasing an additional 17,348 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Kite Realty Group Trust during the third quarter worth approximately $631,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KRG. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. 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 research note on Thursday, February 13th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Five investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.13.

Kite Realty Group Trust Trading Up 1.7 %

Shares of KRG stock opened at $23.33 on Tuesday. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The firm has a market cap of $5.12 billion, a PE ratio of 1,166.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.27. The company has a 50-day moving average of $23.45 and a two-hundred day moving average of $25.29. 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 posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping 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, analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed 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 dividend yield of 4.63%. Kite Realty Group Trust’s dividend payout ratio 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.