abrdn plc Lowers Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

abrdn plc decreased its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,909 shares of the real estate investment trust’s stock after selling 6,248 shares during the quarter. abrdn plc’s holdings in Kite Realty Group Trust were worth $912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Kite Realty Group Trust by 41.7% during the 4th quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 742 shares during the last quarter. VitalStone Financial LLC purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter valued at $161,000. Column Capital Advisors LLC increased its holdings in shares of Kite Realty Group Trust by 8,241.0% during the 3rd quarter. Column Capital Advisors LLC now owns 8,341 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 8,241 shares during the last quarter. Oak Thistle LLC acquired a new position in Kite Realty Group Trust in the third quarter valued at $212,000. Finally, Custom Index Systems LLC purchased a new stake in Kite Realty Group Trust during the fourth quarter valued at about $244,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KRG. Jefferies Financial Group upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Thursday, April 18th. 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average target price of $26.00.

Kite Realty Group Trust Stock Performance

KRG stock opened at $21.70 on Tuesday. The firm has a market cap of $4.77 billion, a P/E ratio of 98.64, a P/E/G ratio of 3.06 and a beta of 1.29. The stock’s 50 day simple moving average is $21.02 and its 200 day simple moving average is $21.40. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. Kite Realty Group Trust has a 12-month low of $19.16 and a 12-month high of $24.26.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, April 5th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 4th. This represents a $1.00 annualized dividend and a yield of 4.61%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 454.57%.

Kite Realty Group Trust Company 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.