Charles Schwab Investment Management Inc. Sells 29,732 Shares of Kite Realty Group Trust (NYSE:KRG)

Charles Schwab Investment Management Inc. lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,696,051 shares of the real estate investment trust’s stock after selling 29,732 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.68% of Kite Realty Group Trust worth $82,681,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Kite Realty Group Trust during the 1st quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in Kite Realty Group Trust during the 1st quarter worth about $25,000. Optiver Holding B.V. grew its holdings in Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 467 shares during the last quarter. CX Institutional bought a new stake in Kite Realty Group Trust during the 1st quarter worth about $79,000. Finally, GF Fund Management CO. LTD. bought a new stake in Kite Realty Group Trust during the 4th quarter worth about $101,000. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

KRG has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Raymond James Financial reduced their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Friday, May 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Finally, UBS Group began coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.11.

Kite Realty Group Trust Stock Up 2.2%

Shares of NYSE KRG opened at $21.70 on Thursday. The firm has a market capitalization of $4.77 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 6.44 and a beta of 1.16. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24. The firm’s 50-day moving average is $22.41 and its 200-day moving average is $22.25.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting 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 business had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Equities analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.08 annualized dividend and a yield of 5.0%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 136.71%.

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.