Raymond James Financial Services Advisors Inc. Reduces Stake in Kite Realty Group Trust (NYSE:KRG)

Raymond James Financial Services Advisors Inc. trimmed its stake in Kite Realty Group Trust (NYSE:KRG) by 19.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,555 shares of the real estate investment trust’s stock after selling 6,181 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Kite Realty Group Trust were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KRG. Raymond James & Associates boosted its stake in Kite Realty Group Trust by 32.3% in the first quarter. Raymond James & Associates now owns 116,703 shares of the real estate investment trust’s stock valued at $2,657,000 after acquiring an additional 28,495 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Kite Realty Group Trust by 18.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,700 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 1,067 shares during the period. Natixis Advisors L.P. bought a new stake in shares of Kite Realty Group Trust in the first quarter valued at approximately $448,000. Bank of Montreal Can raised its position in shares of Kite Realty Group Trust by 16.8% in the first quarter. Bank of Montreal Can now owns 26,095 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 3,760 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Kite Realty Group Trust by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,266 shares of the real estate investment trust’s stock valued at $1,828,000 after purchasing an additional 7,651 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $20.56 on Friday. The firm’s 50 day simple moving average is $21.03 and its 200 day simple moving average is $21.36. 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 firm has a market capitalization of $4.51 billion, a PE ratio of 93.46, a price-to-earnings-growth ratio of 2.86 and a beta of 1.29. Kite Realty Group Trust has a 1-year low of $19.16 and a 1-year high of $24.26.

Kite Realty Group Trust Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date was Thursday, April 4th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 454.57%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports 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 target on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.50.

About Kite Realty Group Trust

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.