Envestnet Asset Management Inc. Has $6.17 Million Position in Kite Realty Group Trust (NYSE:KRG)

Envestnet Asset Management Inc. lifted its position in Kite Realty Group Trust (NYSE:KRG) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,272 shares of the real estate investment trust’s stock after acquiring an additional 25,805 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of Kite Realty Group Trust worth $6,165,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KRG. Wilmington Savings Fund Society FSB acquired a new position in shares of Kite Realty Group Trust in the 3rd quarter valued at approximately $39,000. Versant Capital Management Inc raised its holdings in shares of Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC bought a new stake in Kite Realty Group Trust in the 4th quarter valued at $101,000. Headlands Technologies LLC acquired a new position in Kite Realty Group Trust in the 4th quarter worth $116,000. Finally, GAMMA Investing LLC increased its holdings in Kite Realty Group Trust by 15.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 0.8 %

KRG stock opened at $21.18 on Tuesday. The business’s 50 day simple moving average is $21.86 and its 200 day simple moving average is $24.16. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The firm has a market capitalization of $4.65 billion, a PE ratio of 1,059.00, a PEG ratio of 3.57 and a beta of 1.05. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 5.10%. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Wall Street Analysts Forecast Growth

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

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.