Phocas Financial Corp. Has $1.09 Million Holdings in Kite Realty Group Trust (NYSE:KRG)

Phocas Financial Corp. decreased its stake in Kite Realty Group Trust (NYSE:KRG) by 70.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 43,316 shares of the real estate investment trust’s stock after selling 102,664 shares during the period. Phocas Financial Corp.’s holdings in Kite Realty Group Trust were worth $1,093,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Kite Realty Group Trust by 432.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after acquiring an additional 1,105,539 shares during the period. Franklin Resources Inc. boosted its position in Kite Realty Group Trust by 51.5% in the third quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock valued at $50,684,000 after buying an additional 673,976 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth approximately $7,486,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Kite Realty Group Trust in the 4th quarter worth approximately $5,934,000. Finally, Barclays PLC grew its position in Kite Realty Group Trust by 29.0% during the 3rd quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust’s stock worth $25,139,000 after acquiring an additional 212,983 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Up 1.6 %

Shares of NYSE:KRG opened at $22.37 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 1,118.25, a P/E/G ratio of 3.57 and a beta of 1.27. The company has a 50 day moving average of $23.70 and a 200-day moving average of $25.36. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.83%. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Wall Street Analysts Forecast Growth

KRG has been the subject of several research analyst reports. Robert W. Baird boosted their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company cut their price target on 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. Piper Sandler reissued a “neutral” rating and set a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. reduced their target price 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. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.13.

Kite Realty Group Trust Company 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.