Kite Realty Group Trust (NYSE:KRG) Holdings Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,989 shares of the real estate investment trust’s stock after selling 553 shares during the period. PNC Financial Services Group Inc.’s holdings in Kite Realty Group Trust were worth $291,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KRG. Wells Fargo & Company MN raised its holdings in shares of Kite Realty Group Trust by 18.2% during the fourth quarter. Wells Fargo & Company MN now owns 166,842 shares of the real estate investment trust’s stock valued at $4,211,000 after buying an additional 25,671 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Kite Realty Group Trust by 11.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 244,272 shares of the real estate investment trust’s stock valued at $6,165,000 after buying an additional 25,805 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $19,632,000. Barclays PLC raised its holdings in shares of Kite Realty Group Trust by 25.0% during the fourth quarter. Barclays PLC now owns 1,183,004 shares of the real estate investment trust’s stock valued at $29,859,000 after buying an additional 236,503 shares during the last quarter. Finally, Mariner LLC raised its holdings in shares of Kite Realty Group Trust by 4.1% during the fourth quarter. Mariner LLC now owns 81,427 shares of the real estate investment trust’s stock valued at $2,055,000 after buying an additional 3,237 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $21.51 on Friday. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market capitalization of $4.73 billion, a PE ratio of 27.23, a P/E/G ratio of 6.52 and a beta of 1.16. The company’s 50 day simple moving average is $22.38 and its 200 day simple moving average is $22.21.

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 (EPS) for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. As a group, equities research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be given a $0.27 dividend. The ex-dividend date is Thursday, October 9th. This represents a $1.08 annualized dividend and a yield of 5.0%. Kite Realty Group Trust’s payout ratio is 136.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and set a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. UBS Group initiated coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price target on the stock. Wall Street Zen lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Raymond James Financial lowered their price objective 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. Seven equities research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.11.

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.