Securian Asset Management Inc. Decreases Stake in Kite Realty Group Trust (NYSE:KRG)

Securian Asset Management Inc. lessened its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,606 shares of the real estate investment trust’s stock after selling 474 shares during the quarter. Securian Asset Management Inc.’s holdings in Kite Realty Group Trust were worth $419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KRG. Wilmington Savings Fund Society FSB purchased a new stake in Kite Realty Group Trust during the 3rd quarter valued at $39,000. Versant Capital Management Inc raised its stake in shares of Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,080 shares during the last quarter. Spectrum Wealth Counsel LLC purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $101,000. GAMMA Investing LLC grew its stake 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 purchasing an additional 652 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in Kite Realty Group Trust by 19.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 1,210 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 1.7 %

Shares of Kite Realty Group Trust stock opened at $22.12 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 $4.86 billion, a price-to-earnings ratio of 1,106.20, a PEG ratio of 3.57 and a beta of 1.30. The company has a 50-day moving average of $22.87 and a 200 day moving average of $25.06. 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 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%. As a group, sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors 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 yield of 4.88%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 5,400.00%.

Analyst Ratings Changes

KRG has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. JPMorgan Chase & Co. cut 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 report on Wednesday, January 15th. Wells Fargo & Company reduced their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Raymond James dropped their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, March 10th. Finally, Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price target for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given 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 target price of $28.13.

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.