American Century Companies Inc. Reduces Stock Position in Kite Realty Group Trust (NYSE:KRG)

American Century Companies Inc. decreased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 40.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,205,397 shares of the real estate investment trust’s stock after selling 802,928 shares during the quarter. American Century Companies Inc. owned about 0.55% of Kite Realty Group Trust worth $30,424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KRG. Proficio Capital Partners LLC purchased a new position in shares of Kite Realty Group Trust during the 4th quarter worth $1,180,000. Charles Schwab Investment Management Inc. increased its position in Kite Realty Group Trust by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock worth $94,039,000 after purchasing an additional 73,926 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Kite Realty Group Trust during the fourth quarter worth about $19,632,000. New York State Common Retirement Fund boosted its holdings in Kite Realty Group Trust by 18.6% in the 4th quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust’s stock valued at $2,741,000 after purchasing an additional 17,015 shares during the last quarter. Finally, Aew Capital Management L P purchased a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $31,663,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several 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 on the stock in a research report on Wednesday, January 15th. Jefferies Financial Group downgraded 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 report on Thursday, January 2nd. Raymond James lowered their price target 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. Wells Fargo & Company reduced their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and a consensus target price of $27.88.

Kite Realty Group Trust Price Performance

KRG opened at $22.27 on Friday. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 1,113.50, a PEG ratio of 3.57 and a beta of 1.30. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock’s 50-day moving average price is $22.73 and its 200 day moving average price is $24.85. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate 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%. As a group, sell-side analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis 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%.

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.