Kite Realty Group Trust (NYSE:KRG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 119,119 shares of the real estate investment trust’s stock after selling 2,534 shares during the period. Victory Capital Management Inc.’s holdings in Kite Realty Group Trust were worth $3,007,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of KRG. EMC Capital Management grew its stake in shares of Kite Realty Group Trust by 4.9% in the 4th quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 447 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Kite Realty Group Trust by 2.6% in the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock worth $465,000 after purchasing an additional 466 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Kite Realty Group Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock worth $2,554,000 after purchasing an additional 483 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Kite Realty Group Trust by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 129,014 shares of the real estate investment trust’s stock worth $3,255,000 after purchasing an additional 636 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Kite Realty Group Trust by 15.8% in the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 652 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

KRG stock opened at $21.78 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market cap of $4.79 billion, a P/E ratio of 1,089.20, a P/E/G ratio of 3.57 and a beta of 1.30. The firm has a 50 day simple moving average of $22.92 and a 200 day simple moving average of $25.08. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KRG shares. Raymond James lowered their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company decreased their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.13.

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.