William Blair Investment Management LLC Has $42.97 Million Stake in Kite Realty Group Trust (NYSE:KRG)

William Blair Investment Management LLC trimmed its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,702,276 shares of the real estate investment trust’s stock after selling 198,898 shares during the period. William Blair Investment Management LLC owned about 0.77% of Kite Realty Group Trust worth $42,965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KRG. Atria Investments Inc acquired a new stake in Kite Realty Group Trust in the 3rd quarter valued at $216,000. Metis Global Partners LLC increased its stake in Kite Realty Group Trust by 29.7% in the 3rd quarter. Metis Global Partners LLC now owns 22,615 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 5,179 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Kite Realty Group Trust in the 3rd quarter valued at $365,000. Natixis Advisors LLC grew its position in shares of Kite Realty Group Trust by 14.3% in the 3rd quarter. Natixis Advisors LLC now owns 69,142 shares of the real estate investment trust’s stock valued at $1,836,000 after acquiring an additional 8,645 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Kite Realty Group Trust by 53.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 190,265 shares of the real estate investment trust’s stock valued at $5,053,000 after acquiring an additional 65,881 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.12 on Tuesday. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 1,106.20, a PEG ratio of 3.57 and a beta of 1.30. 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 company has a 50-day simple moving average of $22.87 and a 200 day simple moving average of $25.06. 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 announced its 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%. On average, sell-side analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Analysts Set New Price Targets

KRG has been the subject of a number of analyst reports. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Piper Sandler reissued 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 report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Raymond James decreased their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.