Allianz Asset Management GmbH Has $4.70 Million Position in Kite Realty Group Trust $KRG

Allianz Asset Management GmbH cut its position in Kite Realty Group Trust (NYSE:KRG) by 59.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 210,811 shares of the real estate investment trust’s stock after selling 310,499 shares during the quarter. Allianz Asset Management GmbH’s holdings in Kite Realty Group Trust were worth $4,701,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in Kite Realty Group Trust by 54.8% in the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 462 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Kite Realty Group Trust in the 2nd quarter valued at about $30,000. First Horizon Corp bought a new position in shares of Kite Realty Group Trust in the third quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its position in shares of Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 740 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC increased its holdings in shares of Kite Realty Group Trust by 57.9% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 641 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KRG. Jefferies Financial Group reissued a “hold” rating and issued a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday, December 29th. UBS Group reiterated a “neutral” rating and set a $25.00 price target (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Finally, Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.43.

Kite Realty Group Trust Trading Up 1.4%

Kite Realty Group Trust stock opened at $25.02 on Wednesday. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 6.23 and a beta of 0.91. The firm has a 50-day moving average of $23.60 and a 200-day moving average of $22.76. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.98. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $25.11.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 9th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 4.6%. Kite Realty Group Trust’s dividend payout ratio is 181.25%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.