Bank of New York Mellon Corp Sells 57,754 Shares of Kite Realty Group Trust (NYSE:KRG)

Bank of New York Mellon Corp cut its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 3.3% in the 1st quarter, according to the company in 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 period. Bank of New York Mellon Corp owned approximately 0.77% of Kite Realty Group Trust worth $37,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth about $25,000. Optiver Holding B.V. raised its position in shares of 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 worth $71,000 after acquiring an additional 467 shares in the last quarter. FIL Ltd raised its holdings 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 during the period. Finally, CX Institutional acquired 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 Down 0.5%

Shares of KRG traded down $0.11 on Friday, reaching $22.49. The company's stock had a trading volume of 409,081 shares, compared to its average volume of 1,714,058. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.89. Kite Realty Group Trust has a twelve month low of $18.52 and a twelve month high of $28.24. The stock has a market capitalization of $4.94 billion, a PE ratio of 321.21, a PEG ratio of 6.80 and a beta of 1.09. The firm has a fifty day moving average of $22.47 and a 200-day moving average of $22.46.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. Equities analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Wednesday, July 9th. Kite Realty Group Trust's payout ratio is 1,542.86%.

Wall Street Analysts Forecast Growth

KRG has been the topic of several research reports. Raymond James Financial dropped 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 report on Friday, May 23rd. Wells Fargo & Company dropped their price objective on shares of 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. UBS Group initiated coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price objective on the stock. Finally, 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. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.22.

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.