Cambridge Investment Research Advisors Inc. Lowers Position in Kite Realty Group Trust (NYSE:KRG)

Cambridge Investment Research Advisors Inc. cut its stake in Kite Realty Group Trust (NYSE:KRG – Get Rating) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,548 shares of the real estate investment trust’s stock after selling 1,171 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Kite Realty Group Trust were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Verition Fund Management LLC purchased a new stake in shares of Kite Realty Group Trust in the third quarter worth approximately $1,560,000. Vestmark Advisory Solutions Inc. raised its stake in shares of Kite Realty Group Trust by 39.4% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 33,032 shares of the real estate investment trust’s stock worth $695,000 after purchasing an additional 9,335 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in shares of Kite Realty Group Trust by 20.6% in the fourth quarter. Arete Wealth Advisors LLC now owns 15,358 shares of the real estate investment trust’s stock worth $323,285,900,000 after purchasing an additional 2,620 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Kite Realty Group Trust by 7.0% in the third quarter. Asset Management One Co. Ltd. now owns 371,289 shares of the real estate investment trust’s stock worth $6,393,000 after purchasing an additional 24,394 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Kite Realty Group Trust by 8.0% in the third quarter. Russell Investments Group Ltd. now owns 2,238,115 shares of the real estate investment trust’s stock worth $38,423,000 after purchasing an additional 166,729 shares during the last quarter. 96.84% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $20.48 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.92 and a quick ratio of 0.92. The business has a fifty day simple moving average of $20.28 and a two-hundred day simple moving average of $21.09. Kite Realty Group Trust has a 1 year low of $16.42 and a 1 year high of $23.10. The company has a market capitalization of $4.49 billion, a P/E ratio of 682.89, a P/E/G ratio of 1.98 and a beta of 1.37.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, July 7th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Thursday, July 6th. Kite Realty Group Trust’s payout ratio is currently 3,201.07%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on KRG shares. Piper Sandler increased their price target on Kite Realty Group Trust from $26.00 to $28.00 in a research report on Monday, May 8th. StockNews.com started coverage on Kite Realty Group Trust in a research report on Thursday, May 18th. They set a “sell” rating for the company. Finally, JPMorgan Chase & Co. started coverage on Kite Realty Group Trust in a research report on Monday, April 24th. They set a “neutral” rating and a $23.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average price target of $25.38.

About Kite Realty Group Trust

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Kite Realty Group Trust operates as a real estate investment trust. It engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded on August 16, 2004 and is headquartered in Indianapolis, IN.