First Trust Advisors LP Cuts Position in Kite Realty Group Trust (NYSE:KRG)

First Trust Advisors LP reduced its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 143,013 shares of the real estate investment trust's stock after selling 22,739 shares during the quarter. First Trust Advisors LP owned 0.07% of Kite Realty Group Trust worth $3,610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its position in Kite Realty Group Trust by 5.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 449,652 shares of the real estate investment trust's stock valued at $11,345,000 after purchasing an additional 21,891 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Kite Realty Group Trust by 212.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 25,000 shares of the real estate investment trust's stock valued at $631,000 after buying an additional 17,000 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Kite Realty Group Trust in the 4th quarter worth $1,060,000. Mariner LLC grew its holdings in shares of Kite Realty Group Trust by 4.1% in the fourth quarter. Mariner LLC now owns 81,427 shares of the real estate investment trust's stock worth $2,055,000 after acquiring an additional 3,237 shares during the period. Finally, Barclays PLC increased its position in 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 acquiring an additional 236,503 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on KRG shares. Raymond James dropped their target price on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research report on Monday, March 10th. Piper Sandler restated a "neutral" rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company dropped their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kite Realty Group Trust presently has a consensus rating of "Moderate Buy" and an average price target of $27.88.

Kite Realty Group Trust Price Performance

NYSE:KRG traded down $0.30 on Thursday, reaching $22.07. 118,342 shares of the company's stock traded hands, compared to its average volume of 1,665,543. The firm has a market cap of $4.85 billion, a PE ratio of 1,103.50, a P/E/G ratio of 3.57 and a beta of 1.10. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a 50-day simple moving average of $21.76 and a 200-day simple moving average of $23.86. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. The company had revenue of $221.76 million for the quarter, compared to analysts' expectations of $211.07 million. Equities research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.89%. Kite Realty Group Trust's dividend payout ratio is currently 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.