Kite Realty Group Trust (NYSE:KRG) Stake Lessened by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in Kite Realty Group Trust (NYSE:KRG) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 498,567 shares of the real estate investment trust’s stock after selling 20,873 shares during the period. Alliancebernstein L.P. owned approximately 0.23% of Kite Realty Group Trust worth $12,584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Kite Realty Group Trust in the third quarter valued at approximately $39,000. Versant Capital Management Inc boosted its holdings in 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 worth $62,000 after buying an additional 2,080 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $101,000. GAMMA Investing LLC boosted its holdings in Kite Realty Group Trust by 15.8% during 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 in the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in 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 worth $187,000 after buying an additional 1,210 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Up 5.6 %

KRG stock opened at $20.63 on Thursday. Kite Realty Group Trust has a 12-month low of $18.52 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 $4.53 billion, a price-to-earnings ratio of 1,031.50, a PEG ratio of 3.57 and a beta of 1.05. The company has a 50 day moving average of $22.23 and a two-hundred day moving average of $24.47.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) 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, equities analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.24%. Kite Realty Group Trust’s payout ratio is 5,400.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KRG. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler restated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their target price on shares of 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. Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Finally, Raymond James decreased their price objective 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 note on Monday, March 10th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.88.

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.