Kite Realty Group Trust (NYSE:KRG) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 40.0% in the 4th quarter, HoldingsChannel reports. The fund owned 1,205,397 shares of the real estate investment trust’s stock after selling 802,928 shares during the quarter. American Century Companies Inc.’s holdings in Kite Realty Group Trust were worth $30,424,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KRG. Wilmington Savings Fund Society FSB purchased a new position in Kite Realty Group Trust in the third quarter valued at approximately $39,000. Versant Capital Management Inc grew its position in shares of Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,080 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new stake in Kite Realty Group Trust during the 4th quarter worth $101,000. GAMMA Investing LLC lifted its position in Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 652 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in shares of Kite Realty Group Trust by 19.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 1,210 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.27 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a 50 day simple moving average of $22.73 and a 200-day simple moving average of $24.85. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 1,113.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24.

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

Kite Realty Group Trust Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.85%. 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

A number of analysts recently weighed in on the stock. Raymond James decreased their price target 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 note on Monday, March 10th. JPMorgan Chase & Co. dropped their price target on 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. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price objective for the stock 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 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

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.