Kite Realty Group Trust (NYSE:KRG) Shares Sold by Harvest Investment Services LLC

Harvest Investment Services LLC cut its holdings in Kite Realty Group Trust (NYSE:KRG) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,361 shares of the real estate investment trust’s stock after selling 2,465 shares during the period. Harvest Investment Services LLC’s holdings in Kite Realty Group Trust were worth $564,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Kite Realty Group Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust’s stock valued at $845,708,000 after purchasing an additional 256,476 shares during the period. JPMorgan Chase & Co. raised its holdings in Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after buying an additional 2,308,613 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Kite Realty Group Trust by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock valued at $94,039,000 after buying an additional 73,926 shares during the last quarter. Norges Bank purchased a new position in Kite Realty Group Trust during the fourth quarter worth about $91,335,000. Finally, Invesco Ltd. boosted its stake in Kite Realty Group Trust by 36.5% during the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust’s stock worth $75,038,000 after buying an additional 794,651 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on KRG shares. 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 on the stock in a report on Monday, March 10th. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price target for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Piper Sandler reissued a “neutral” rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.88.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $21.59 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 1,079.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The stock’s 50-day moving average is $21.83 and its two-hundred day moving average is $24.14. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24.

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 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%. Analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 5.00%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 5,400.00%.

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.