UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Position in Kite Realty Group Trust (NYSE:KRG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 82.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,067 shares of the real estate investment trust's stock after selling 1,126,995 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.11% of Kite Realty Group Trust worth $5,908,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Optiver Holding B.V. raised its holdings in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 467 shares in the last quarter. Arizona State Retirement System grew its position in shares of Kite Realty Group Trust by 0.8% in the 4th quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust's stock worth $1,609,000 after buying an additional 516 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Kite Realty Group Trust by 1.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock worth $806,000 after buying an additional 556 shares during the last quarter. FIL Ltd raised its stake in shares of Kite Realty Group Trust by 19.8% during the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 579 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its position in Kite Realty Group Trust by 3.3% during the fourth quarter. IHT Wealth Management LLC now owns 18,489 shares of the real estate investment trust's stock valued at $467,000 after acquiring an additional 582 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Wells Fargo & Company lowered their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, Raymond James dropped their target price on 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. Five investment 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, Kite Realty Group Trust has a consensus rating of "Moderate Buy" and an average price target of $27.63.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock traded up $0.67 during mid-day trading on Friday, reaching $22.57. 2,995,238 shares of the company traded hands, compared to its average volume of 1,697,901. The firm's fifty day moving average is $21.73 and its two-hundred day moving average is $23.22. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 1,128.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. The firm had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. On average, equities research 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio is presently 1,542.86%.

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.