Cetera Investment Advisers Acquires 25,040 Shares of Kite Realty Group Trust (NYSE:KRG)

Cetera Investment Advisers raised its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 129.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,414 shares of the real estate investment trust’s stock after acquiring an additional 25,040 shares during the quarter. Cetera Investment Advisers’ holdings in Kite Realty Group Trust were worth $994,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Smallwood Wealth Investment Management LLC purchased a new position in shares of Kite Realty Group Trust during the first quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Kite Realty Group Trust during the first quarter valued at about $25,000. Optiver Holding B.V. grew its position in shares of Kite Realty Group Trust by 19.9% during 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 in the last quarter. FIL Ltd grew its position in shares of Kite Realty Group Trust by 19.8% during the fourth 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 in the last quarter. Finally, CX Institutional purchased a new position in shares of Kite Realty Group Trust during the first quarter valued at about $79,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $21.22 on Wednesday. The company has a 50 day moving average price of $22.42 and a 200-day moving average price of $22.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24. The company has a market capitalization of $4.67 billion, a PE ratio of 26.87, a P/E/G ratio of 6.36 and a beta of 1.16.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The firm had revenue of $211.18 million during the quarter, compared to the consensus estimate of $211.74 million. As a group, equities analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.1%. Kite Realty Group Trust’s dividend payout ratio is currently 136.71%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. UBS Group assumed coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target for the company. Piper Sandler reiterated a “neutral” rating and issued a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Finally, Raymond James Financial dropped their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.11.

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.