Focus Partners Wealth Acquires 5,525 Shares of Kite Realty Group Trust (NYSE:KRG)

Focus Partners Wealth grew its holdings in Kite Realty Group Trust (NYSE:KRG) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 176,744 shares of the real estate investment trust’s stock after acquiring an additional 5,525 shares during the quarter. Focus Partners Wealth owned 0.08% of Kite Realty Group Trust worth $4,461,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Optiver Holding B.V. increased its holdings in shares of Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 467 shares in the last quarter. FIL Ltd increased its holdings in shares of Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 579 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $101,000. Headlands Technologies LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $116,000. Finally, KBC Group NV grew its holdings in shares of Kite Realty Group Trust by 38.4% during the fourth quarter. KBC Group NV now owns 8,210 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 2,277 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on 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 Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Piper Sandler reiterated a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Raymond James decreased their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, March 10th. 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 stock. Based on data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Stock Down 1.6%

KRG stock opened at $22.54 on Thursday. 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 business has a 50 day moving average price of $21.76 and a two-hundred day moving average price of $23.76. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 1,127.00, a P/E/G ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a twelve month low of $18.52 and a twelve month high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. Analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.79%. Kite Realty Group Trust’s payout ratio is 1,542.86%.

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.