Securian Asset Management Inc. Trims Holdings in Kite Realty Group Trust (NYSE:KRG)

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

Other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kite Realty Group Trust in the third quarter worth about $39,000. Versant Capital Management Inc increased its holdings in Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC purchased a new stake in Kite Realty Group Trust in the 4th quarter worth approximately $101,000. GAMMA Investing LLC boosted its holdings in Kite Realty Group Trust by 15.8% in the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division grew its position in shares of 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 in the last quarter. Institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KRG. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. 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 research report on Monday, March 10th. Finally, Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and a consensus target price of $28.13.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $22.12 on Tuesday. The business has a 50 day moving average of $22.87 and a 200 day moving average of $25.06. The company has a market capitalization 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. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. 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 posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate 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, sell-side analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.88%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 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.