Daiwa Securities Group Inc. Sells 3,722 Shares of Kite Realty Group Trust (NYSE:KRG)

Daiwa Securities Group Inc. decreased its position in shares of Kite Realty Group Trust (NYSE:KRG) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,363 shares of the real estate investment trust’s stock after selling 3,722 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Kite Realty Group Trust were worth $1,517,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KRG. AE Wealth Management LLC raised its holdings in Kite Realty Group Trust by 6.9% during the 3rd quarter. AE Wealth Management LLC now owns 32,426 shares of the real estate investment trust’s stock worth $695,000 after purchasing an additional 2,103 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $212,000. Monument Capital Management acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $385,000. Verdence Capital Advisors LLC grew its position in shares of Kite Realty Group Trust by 4.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 14,619 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 576 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Kite Realty Group Trust by 3.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,877 shares of the real estate investment trust’s stock worth $1,690,000 after buying an additional 2,479 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $21.69 on Wednesday. The company has a fifty day simple moving average of $21.02 and a 200 day simple moving average of $21.39. Kite Realty Group Trust has a 12-month low of $19.16 and a 12-month high of $24.26. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The company has a market cap of $4.76 billion, a P/E ratio of 98.60, a PEG ratio of 3.00 and a beta of 1.29.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, April 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.61%. The ex-dividend date was Thursday, April 4th. Kite Realty Group Trust’s payout ratio is currently 454.57%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Jefferies Financial Group raised shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.50.

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.