Kite Realty Group Trust (NYSE:KRG) Holdings Lowered by Phocas Financial Corp.

Phocas Financial Corp. lessened its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 70.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,316 shares of the real estate investment trust’s stock after selling 102,664 shares during the period. Phocas Financial Corp.’s holdings in Kite Realty Group Trust were worth $1,093,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at approximately $39,000. Versant Capital Management Inc boosted its position in shares of Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,080 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 worth $121,000 after buying an additional 652 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of Kite Realty Group Trust by 19.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,210 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Kite Realty Group Trust during the third quarter valued at $203,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KRG. JPMorgan Chase & Co. lowered their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. KeyCorp boosted their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Robert W. Baird raised their price target 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. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.13.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $22.37 on Wednesday. Kite Realty Group Trust has a 12 month low of $19.64 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 has a market cap of $4.91 billion, a P/E ratio of 1,118.25, a P/E/G ratio of 3.57 and a beta of 1.27. The business’s 50 day moving average is $23.70 and its two-hundred day moving average is $25.36.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current 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 given a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 4.83%. Kite Realty Group Trust’s dividend payout ratio (DPR) 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.