Cerity Partners LLC Sells 19,407 Shares of Kite Realty Group Trust (NYSE:KRG)

Cerity Partners LLC reduced its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 40.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,743 shares of the real estate investment trust’s stock after selling 19,407 shares during the quarter. Cerity Partners LLC’s holdings in Kite Realty Group Trust were worth $762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. EMC Capital Management boosted its position in shares of Kite Realty Group Trust by 4.9% during the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 447 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Kite Realty Group Trust by 2.6% during the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock valued at $465,000 after purchasing an additional 466 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Kite Realty Group Trust by 0.8% during the 4th quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust’s stock valued at $1,609,000 after purchasing an additional 516 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Kite Realty Group Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 129,014 shares of the real estate investment trust’s stock valued at $3,255,000 after purchasing an additional 636 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 652 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on KRG. JPMorgan Chase & Co. cut their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Raymond James dropped their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. Finally, Wells Fargo & Company reduced their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock opened at $21.36 on Friday. Kite Realty Group Trust has a 12-month low of $18.52 and a 12-month high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $21.90 and a 200-day moving average price of $24.20. The firm has a market capitalization of $4.69 billion, a PE ratio of 1,067.80, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. As a group, equities research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th were paid a $0.27 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.06%. Kite Realty Group Trust’s payout ratio is 5,400.00%.

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.