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

William Blair Investment Management LLC trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 10.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,702,276 shares of the real estate investment trust’s stock after selling 198,898 shares during the quarter. William Blair Investment Management LLC’s holdings in Kite Realty Group Trust were worth $42,965,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at $1,180,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Kite Realty Group Trust by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock valued at $94,039,000 after purchasing an additional 73,926 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at $7,486,000. Aew Capital Management L P bought a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at $31,663,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Kite Realty Group Trust by 18.6% in the 4th quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust’s stock valued at $2,741,000 after purchasing an additional 17,015 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Performance

KRG opened at $22.12 on Tuesday. 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 company’s fifty day moving average price is $22.87 and its two-hundred day moving average price is $25.06. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company has a market cap 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.

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 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, analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

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 dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 4.88%. Kite Realty Group Trust’s payout ratio is 5,400.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Raymond James cut their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company cut their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.13.

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.