Great Lakes Advisors LLC Sells 21,334 Shares of Kite Realty Group Trust (NYSE:KRG)

Great Lakes Advisors LLC lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 254,475 shares of the real estate investment trust’s stock after selling 21,334 shares during the period. Great Lakes Advisors LLC’s holdings in Kite Realty Group Trust were worth $6,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Atria Investments Inc acquired a new stake in shares of Kite Realty Group Trust in the third quarter valued at approximately $216,000. Versor Investments LP bought a new position in Kite Realty Group Trust in the third quarter valued at about $537,000. Metis Global Partners LLC raised its stake in Kite Realty Group Trust by 29.7% during the third quarter. Metis Global Partners LLC now owns 22,615 shares of the real estate investment trust’s stock worth $601,000 after acquiring an additional 5,179 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of Kite Realty Group Trust in the third quarter worth about $365,000. Finally, Connable Office Inc. acquired a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at approximately $207,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 3.0 %

Shares of KRG opened at $21.24 on Friday. The stock’s 50-day moving average price is $22.98 and its two-hundred day moving average price is $25.13. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The company has a market capitalization of $4.66 billion, a PE ratio of 1,061.80, a PEG ratio of 3.57 and a beta of 1.30. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

Wall Street Analysts Forecast Growth

KRG has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price objective for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Robert W. Baird upped their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Raymond James cut their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday. Wells Fargo & Company lowered their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Five investment 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.com, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and a consensus target price of $28.13.

About Kite Realty Group Trust

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.