NewEdge Wealth LLC Decreases Stake in Kite Realty Group Trust (NYSE:KRG)

NewEdge Wealth LLC lessened its position in shares of Kite Realty Group Trust (NYSE:KRG) by 6.2% in the 4th quarter, HoldingsChannel reports. The fund owned 29,659 shares of the real estate investment trust’s stock after selling 1,963 shares during the period. NewEdge Wealth LLC’s holdings in Kite Realty Group Trust were worth $678,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KRG. Sapient Capital LLC acquired a new position in shares of Kite Realty Group Trust during the fourth quarter worth $359,000. Cerity Partners LLC acquired a new stake in shares of Kite Realty Group Trust during the 4th quarter worth about $323,000. Mutual of America Capital Management LLC lifted its stake in Kite Realty Group Trust by 66.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 237,149 shares of the real estate investment trust’s stock worth $5,421,000 after purchasing an additional 94,530 shares during the last quarter. Custom Index Systems LLC acquired a new position in Kite Realty Group Trust in the fourth quarter valued at approximately $244,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Kite Realty Group Trust in the fourth quarter valued at approximately $405,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Piper Sandler lifted their price target on shares of Kite Realty Group Trust from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Hold” and an average target price of $26.00.

Kite Realty Group Trust Trading Down 0.4 %

KRG opened at $19.93 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.79. Kite Realty Group Trust has a 52 week low of $19.16 and a 52 week high of $24.26. The business’s 50 day moving average is $21.11 and its two-hundred day moving average is $21.38. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 90.64, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29.

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, April 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.02%. Kite Realty Group Trust’s payout ratio is 454.57%.

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.