Envestnet Asset Management Inc. Sells 24,924 Shares of Kite Realty Group Trust (NYSE:KRG)

Envestnet Asset Management Inc. lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG – Get Rating) by 13.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,224 shares of the real estate investment trust’s stock after selling 24,924 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Kite Realty Group Trust worth $2,690,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Kite Realty Group Trust by 13.4% in the second quarter. JPMorgan Chase & Co. now owns 17,817,056 shares of the real estate investment trust’s stock valued at $308,056,000 after acquiring an additional 2,107,502 shares during the period. State Street Corp boosted its position in shares of Kite Realty Group Trust by 15.0% in the first quarter. State Street Corp now owns 13,205,735 shares of the real estate investment trust’s stock valued at $300,695,000 after acquiring an additional 1,726,009 shares during the period. Macquarie Group Ltd. boosted its position in shares of Kite Realty Group Trust by 16.6% in the second quarter. Macquarie Group Ltd. now owns 8,943,429 shares of the real estate investment trust’s stock valued at $154,637,000 after acquiring an additional 1,275,585 shares during the period. Prudential Financial Inc. boosted its position in shares of Kite Realty Group Trust by 81.9% in the first quarter. Prudential Financial Inc. now owns 2,098,362 shares of the real estate investment trust’s stock valued at $47,781,000 after acquiring an additional 944,981 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Kite Realty Group Trust in the third quarter valued at approximately $12,221,000. Institutional investors own 96.84% of the company’s stock.

Kite Realty Group Trust Trading Down 2.4 %

NYSE:KRG opened at $21.09 on Wednesday. Kite Realty Group Trust has a fifty-two week low of $16.42 and a fifty-two week high of $23.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $4.62 billion, a PE ratio of -301.29, a price-to-earnings-growth ratio of 2.33 and a beta of 1.38. The business’s 50-day simple moving average is $21.45 and its 200-day simple moving average is $20.47.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, April 7th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Wednesday, April 5th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently -1,371.43%.

Analyst Ratings Changes

KRG has been the subject of several research reports. Barclays raised their target price on Kite Realty Group Trust from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 6th. Robert W. Baird cut Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $25.00 in a research report on Thursday, January 5th. Bank of America raised Kite Realty Group Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $22.00 to $25.00 in a research report on Wednesday, November 9th. Piper Sandler raised their target price on Kite Realty Group Trust to $25.00 in a research report on Wednesday, November 16th. Finally, Raymond James dropped their price objective on Kite Realty Group Trust from $27.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 4th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average price target of $25.29.

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.