Commonwealth Equity Services LLC Decreases Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Commonwealth Equity Services LLC decreased its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,394 shares of the real estate investment trust’s stock after selling 4,976 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Kite Realty Group Trust were worth $2,068,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KRG. Stifel Financial Corp increased its stake in Kite Realty Group Trust by 0.8% in the 3rd quarter. Stifel Financial Corp now owns 78,300 shares of the real estate investment trust’s stock worth $1,677,000 after buying an additional 639 shares during the period. Natixis Advisors L.P. increased its stake in Kite Realty Group Trust by 22.9% in the 3rd quarter. Natixis Advisors L.P. now owns 37,102 shares of the real estate investment trust’s stock worth $795,000 after buying an additional 6,915 shares during the period. Qube Research & Technologies Ltd purchased a new position in Kite Realty Group Trust in the 3rd quarter worth about $4,665,000. Glenmede Trust Co. NA purchased a new position in Kite Realty Group Trust in the 3rd quarter worth about $752,000. Finally, Ameriprise Financial Inc. grew its holdings in Kite Realty Group Trust by 1.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,094,540 shares of the real estate investment trust’s stock worth $44,865,000 after acquiring an additional 24,599 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on KRG. Wells Fargo & Company increased their target price on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a report on Tuesday, May 28th. Jefferies Financial Group raised shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Hold” and an average target price of $26.00.

Kite Realty Group Trust Price Performance

KRG traded up $0.04 on Friday, hitting $22.20. 330,089 shares of the company’s stock were exchanged, compared to its average volume of 1,705,001. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $24.26. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $21.62 and a 200-day moving average price of $21.55. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 85.23, a P/E/G ratio of 5.59 and a beta of 1.31.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.00 annualized dividend and a dividend yield of 4.50%. Kite Realty Group Trust’s payout ratio is 384.63%.

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.