American International Group Inc. Has $9.21 Million Stock Position in Kite Realty Group Trust (NYSE:KRG)

American International Group Inc. cut its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 402,845 shares of the real estate investment trust’s stock after selling 13,124 shares during the period. American International Group Inc. owned approximately 0.18% of Kite Realty Group Trust worth $9,209,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Stifel Financial Corp grew its stake in shares of Kite Realty Group Trust by 0.8% during the third quarter. Stifel Financial Corp now owns 78,300 shares of the real estate investment trust’s stock worth $1,677,000 after purchasing an additional 639 shares during the period. Blue Trust Inc. grew its stake in shares of Kite Realty Group Trust by 41.7% during the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 742 shares during the period. Retirement Systems of Alabama grew its stake in shares of Kite Realty Group Trust by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 274,770 shares of the real estate investment trust’s stock worth $6,281,000 after purchasing an additional 860 shares during the period. Wolverine Asset Management LLC grew its stake in shares of Kite Realty Group Trust by 280.5% during the fourth quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,327 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Kite Realty Group Trust by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 262,040 shares of the real estate investment trust’s stock worth $5,990,000 after purchasing an additional 1,400 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KRG. StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Wells Fargo & Company boosted their target price on Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Hold” and an average price target of $26.40.

Kite Realty Group Trust Stock Down 0.3 %

NYSE:KRG opened at $21.81 on Wednesday. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 83.87, a PEG ratio of 5.54 and a beta of 1.28. The stock has a 50-day moving average price of $21.28 and a two-hundred day moving average price of $21.57. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $24.26. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.90.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.59%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 384.63%.

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.