Kite Realty Group Trust (NYSE:KRG) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,659 shares of the real estate investment trust’s stock after selling 1,963 shares during the quarter. NewEdge Wealth LLC’s holdings in Kite Realty Group Trust were worth $678,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Kite Realty Group Trust in the first quarter valued at $33,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Kite Realty Group Trust by 107.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,631 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 846 shares during the period. CENTRAL TRUST Co boosted its stake in shares of Kite Realty Group Trust by 91.4% in the third quarter. CENTRAL TRUST Co now owns 1,675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 800 shares during the last quarter. Covestor Ltd boosted its stake in shares of Kite Realty Group Trust by 7,854.2% in the first quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 1,885 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Kite Realty Group Trust by 41.7% during the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 742 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 0.4 %

Shares of KRG stock opened at $19.93 on Wednesday. Kite Realty Group Trust has a 1-year low of $19.16 and a 1-year high of $24.26. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 90.64, a PEG ratio of 2.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a 50 day simple moving average of $21.11 and a 200-day simple moving average of $21.38.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, April 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Thursday, April 4th. Kite Realty Group Trust’s dividend payout ratio is presently 454.57%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KRG. StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Piper Sandler increased their price target on shares of Kite Realty Group Trust from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock 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.