Crossmark Global Holdings Inc. Cuts Holdings in Kite Realty Group Trust (NYSE:KRG)

Crossmark Global Holdings Inc. decreased its position in Kite Realty Group Trust (NYSE:KRG) by 8.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,536 shares of the real estate investment trust’s stock after selling 1,445 shares during the period. Crossmark Global Holdings Inc.’s holdings in Kite Realty Group Trust were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Kite Realty Group Trust by 2.7% in the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after buying an additional 881,502 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Kite Realty Group Trust by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock worth $76,448,000 after purchasing an additional 90,897 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Kite Realty Group Trust by 28.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after purchasing an additional 693,852 shares in the last quarter. Norges Bank purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $52,746,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Kite Realty Group Trust by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock worth $48,955,000 after purchasing an additional 32,493 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on KRG shares. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. KeyCorp boosted their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, August 16th. Finally, Piper Sandler boosted their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.33.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $25.85 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 99.41, a PEG ratio of 3.99 and a beta of 1.31. The company’s 50-day moving average is $24.04 and its two-hundred day moving average is $22.24. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $26.24.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.02%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, October 9th. Kite Realty Group Trust’s payout ratio is presently 384.63%.

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.