Charles Schwab Investment Management Inc. Has $82.68 Million Stake in Kite Realty Group Trust $KRG

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Kite Realty Group Trust by 0.8%, selling 29,732 shares, and now owns approximately 1.68% of the company, valued at $82.7 million.
• A consensus rating of "Hold" has been established for Kite Realty Group Trust, with a target price averaging $27.11 as several analysts recently adjusted their price targets.
• Kite Realty Group Trust recently announced a quarterly dividend of $0.27 per share, set to be paid on October 16, with a yield of 5.0%.

Charles Schwab Investment Management Inc. cut its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,696,051 shares of the real estate investment trust's stock after selling 29,732 shares during the period. Charles Schwab Investment Management Inc. owned 1.68% of Kite Realty Group Trust worth $82,681,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in 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 worth $4,211,000 after acquiring an additional 25,671 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Kite Realty Group Trust by 11.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 244,272 shares of the real estate investment trust's stock worth $6,165,000 after purchasing an additional 25,805 shares during the period. Bank of Montreal Can increased its position in Kite Realty Group Trust by 4.3% in the fourth quarter. Bank of Montreal Can now owns 62,065 shares of the real estate investment trust's stock worth $1,567,000 after buying an additional 2,571 shares during the period. Raymond James Financial Inc. acquired a new stake in Kite Realty Group Trust in the fourth quarter worth $19,632,000. Finally, Barclays PLC increased its stake in shares of Kite Realty Group Trust by 25.0% in 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 purchasing an additional 236,503 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KRG has been the topic of a number of research analyst reports. Wall Street Zen lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Piper Sandler restated a "neutral" rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. 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 for the company in a report on Friday, May 23rd. Finally, UBS Group initiated coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price objective for the company. Seven investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.11.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG traded up $0.01 during trading hours on Monday, reaching $21.52. The stock had a trading volume of 210,648 shares, compared to its average volume of 1,886,571. The business's fifty day moving average is $22.38 and its two-hundred day moving average is $22.20. 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 company has a market cap of $4.73 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 6.52 and a beta of 1.16. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24.

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

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be given a dividend of $0.27 per share. 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 dividend payout ratio (DPR) is 136.71%.

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.