Mirae Asset Global Investments Co. Ltd. Sells 1,007 Shares of Kite Realty Group Trust (NYSE:KRG)

Mirae Asset Global Investments Co. Ltd. reduced its position in Kite Realty Group Trust (NYSE:KRG) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 103,932 shares of the real estate investment trust’s stock after selling 1,007 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Kite Realty Group Trust were worth $2,376,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in Kite Realty Group Trust in the 3rd quarter worth approximately $8,160,000. Walleye Trading LLC purchased a new stake in Kite Realty Group Trust during the 3rd quarter valued at $1,349,000. Natixis Advisors L.P. raised its stake in Kite Realty Group Trust by 22.9% during the 3rd quarter. Natixis Advisors L.P. now owns 37,102 shares of the real estate investment trust’s stock valued at $795,000 after buying an additional 6,915 shares during the last quarter. Raymond James & Associates raised its stake in Kite Realty Group Trust by 48.0% during the 4th quarter. Raymond James & Associates now owns 123,874 shares of the real estate investment trust’s stock valued at $2,832,000 after buying an additional 40,173 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Kite Realty Group Trust by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 32,371,645 shares of the real estate investment trust’s stock valued at $693,401,000 after buying an additional 278,421 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on KRG. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Thursday. StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.50.

Kite Realty Group Trust Trading Up 2.3 %

Shares of Kite Realty Group Trust stock opened at $20.56 on Friday. The company has a market capitalization of $4.51 billion, a P/E ratio of 93.46, a P/E/G ratio of 2.86 and a beta of 1.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day moving average of $21.03 and a 200 day moving average of $21.36. Kite Realty Group Trust has a fifty-two week low of $19.16 and a fifty-two week high of $24.26.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, April 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Thursday, April 4th. Kite Realty Group Trust’s dividend payout ratio is currently 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.