Kite Realty Group Trust (NYSE:KRG) Shares Sold by LPL Financial LLC

LPL Financial LLC reduced its position in shares of Kite Realty Group Trust (NYSE:KRG – Get Rating) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,152 shares of the real estate investment trust’s stock after selling 4,103 shares during the period. LPL Financial LLC’s holdings in Kite Realty Group Trust were worth $1,877,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. LDR Capital Management LLC increased its stake in Kite Realty Group Trust by 2.4% during the 4th quarter. LDR Capital Management LLC now owns 71,979 shares of the real estate investment trust’s stock worth $1,515,000 after buying an additional 1,680 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Kite Realty Group Trust by 22.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 191,263 shares of the real estate investment trust’s stock worth $4,026,000 after buying an additional 35,039 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Kite Realty Group Trust by 9.4% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 113,668 shares of the real estate investment trust’s stock worth $2,425,000 after buying an additional 9,767 shares in the last quarter. Arete Wealth Advisors LLC increased its stake in Kite Realty Group Trust by 20.6% during the 4th quarter. Arete Wealth Advisors LLC now owns 15,358 shares of the real estate investment trust’s stock worth $323,285,900,000 after buying an additional 2,620 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in Kite Realty Group Trust by 0.7% during the 4th quarter. Retirement Systems of Alabama now owns 288,778 shares of the real estate investment trust’s stock worth $6,079,000 after buying an additional 1,917 shares in the last quarter. 96.84% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Down 0.8 %

NYSE:KRG opened at $20.31 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $20.28 and its two-hundred day moving average is $21.08. Kite Realty Group Trust has a 52 week low of $16.42 and a 52 week high of $23.10. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 677.23, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, July 7th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Thursday, July 6th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 3,201.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KRG shares. Piper Sandler upped 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 issued a “sell” rating for the company. JPMorgan Chase & Co. started coverage on Kite Realty Group Trust in a research report on Monday, April 24th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Wells Fargo & Company began coverage on Kite Realty Group Trust in a research report on Tuesday. They issued an “underweight” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.