Great Lakes Advisors LLC Sells 23,531 Shares of Kite Realty Group Trust $KRG

Great Lakes Advisors LLC lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,620 shares of the real estate investment trust’s stock after selling 23,531 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.08% of Kite Realty Group Trust worth $4,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in shares of Kite Realty Group Trust by 54.8% during the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares during the period. Ameritas Advisory Services LLC acquired a new position in Kite Realty Group Trust during the 2nd quarter valued at about $30,000. First Horizon Corp acquired a new position in Kite Realty Group Trust during the 3rd quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 740 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC grew its position in shares of Kite Realty Group Trust by 57.9% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 641 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 1.1%

KRG stock opened at $23.52 on Friday. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 36.74, a P/E/G ratio of 5.87 and a beta of 0.89. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $24.50. The business has a 50 day moving average price of $23.40 and a two-hundred day moving average price of $22.67. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.27%. Analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 4.9%. Kite Realty Group Trust’s payout ratio is currently 181.25%.

Wall Street Analyst Weigh In

KRG has been the topic of a number of analyst reports. Wells Fargo & Company raised Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. UBS Group reiterated a “neutral” rating and issued a $25.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Raymond James Financial cut shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.43.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.