Cerity Partners LLC Trims Stock Position in Kite Realty Group Trust (NYSE:KRG)

Cerity Partners LLC decreased its position in Kite Realty Group Trust (NYSE:KRG) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,210 shares of the real estate investment trust’s stock after selling 2,533 shares during the period. Cerity Partners LLC’s holdings in Kite Realty Group Trust were worth $586,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Kite Realty Group Trust during the 1st quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC acquired a new stake in Kite Realty Group Trust during the first quarter worth $25,000. Optiver Holding B.V. raised its position in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 467 shares during the period. CX Institutional purchased a new stake in Kite Realty Group Trust in the first quarter valued at $79,000. Finally, FIL Ltd lifted its stake in shares of Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 0.5%

Shares of NYSE:KRG opened at $22.79 on Friday. The firm has a market capitalization of $5.01 billion, a PE ratio of 325.50, a price-to-earnings-growth ratio of 6.97 and a beta of 1.09. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s 50-day moving average is $22.46 and its two-hundred day moving average is $22.39.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. Kite Realty Group Trust had a net margin of 1.59% and a return on equity of 0.41%. The firm had revenue of $221.76 million for the quarter, compared to the consensus estimate of $211.07 million. Analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th were issued a $0.27 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.74%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 1,542.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on KRG shares. Wall Street Zen cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Raymond James Financial lowered their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Friday, May 23rd. Finally, UBS Group initiated coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price target for the company. Seven 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.22.

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.