Bank of New York Mellon Corp Lowers Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Bank of New York Mellon Corp lessened its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,682,777 shares of the real estate investment trust's stock after selling 57,754 shares during the quarter. Bank of New York Mellon Corp owned 0.77% of Kite Realty Group Trust worth $37,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new stake in Kite Realty Group Trust in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Kite Realty Group Trust in the 1st quarter valued at approximately $25,000. Optiver Holding B.V. boosted its holdings in Kite Realty Group Trust by 19.9% in the 4th 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 boosted its holdings in 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 in the last quarter. Finally, CX Institutional purchased a new stake in Kite Realty Group Trust in the 1st quarter valued at approximately $79,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock traded up $0.18 during trading on Wednesday, hitting $22.35. 1,535,547 shares of the company were exchanged, compared to its average volume of 1,718,818. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.89. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 319.27, a P/E/G ratio of 6.75 and a beta of 1.09. The firm has a 50 day moving average price of $22.47 and a 200 day moving average price of $22.48.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. The firm had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. On average, equities analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.83%. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KRG. Wells Fargo & Company lowered their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. 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. Finally, Raymond James Financial reduced their price target 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 report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.