PNC Financial Services Group Inc. Cuts Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

PNC Financial Services Group Inc. lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 18.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,733 shares of the real estate investment trust’s stock after selling 1,317 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kite Realty Group Trust were worth $131,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Duality Advisers LP purchased a new stake in Kite Realty Group Trust during the fourth quarter worth $973,000. LSV Asset Management lifted its stake in shares of Kite Realty Group Trust by 33.4% during the 4th quarter. LSV Asset Management now owns 917,000 shares of the real estate investment trust’s stock worth $20,963,000 after purchasing an additional 229,788 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Kite Realty Group Trust by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock valued at $76,448,000 after purchasing an additional 90,897 shares in the last quarter. Wellington Management Group LLP purchased a new position in Kite Realty Group Trust in the third quarter valued at about $8,160,000. Finally, Walleye Trading LLC bought a new position in Kite Realty Group Trust in the third quarter worth about $1,349,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $22.16 on Friday. The company has a 50 day moving average price of $21.62 and a 200 day moving average price of $21.55. The firm has a market capitalization of $4.87 billion, a P/E ratio of 85.23, a PEG ratio of 5.62 and a beta of 1.31. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $24.26.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.00 annualized dividend and a dividend yield of 4.51%. Kite Realty Group Trust’s payout ratio is currently 384.63%.

Analyst Ratings Changes

KRG has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Jefferies Financial Group raised shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust has a consensus rating of “Hold” and a consensus target price of $26.00.

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.