Bernzott Capital Advisors Has $6.13 Million Stake in Kite Realty Group Trust (NYSE:KRG)

Bernzott Capital Advisors trimmed its holdings in Kite Realty Group Trust (NYSE:KRG) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,930 shares of the real estate investment trust’s stock after selling 26,200 shares during the period. Kite Realty Group Trust comprises about 3.0% of Bernzott Capital Advisors’ investment portfolio, making the stock its 19th largest holding. Bernzott Capital Advisors owned about 0.11% of Kite Realty Group Trust worth $6,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Kite Realty Group Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after buying an additional 190,380 shares during the period. Renaissance Technologies LLC boosted its position in shares of Kite Realty Group Trust by 82.6% during the second quarter. Renaissance Technologies LLC now owns 400,403 shares of the real estate investment trust’s stock worth $8,961,000 after buying an additional 181,100 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Kite Realty Group Trust by 12.8% during the second quarter. Mutual of America Capital Management LLC now owns 315,327 shares of the real estate investment trust’s stock worth $7,057,000 after buying an additional 35,721 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Kite Realty Group Trust by 45.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,265 shares of the real estate investment trust’s stock worth $408,000 after buying an additional 5,697 shares during the period. Finally, Hsbc Holdings PLC boosted its position in Kite Realty Group Trust by 82.8% during the second quarter. Hsbc Holdings PLC now owns 375,103 shares of the real estate investment trust’s stock valued at $8,335,000 after purchasing an additional 169,878 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KRG. Robert W. Baird raised their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. dropped their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. KeyCorp lifted their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price target for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average price target of $29.13.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $23.23 on Friday. The stock has a market capitalization of $5.10 billion, a PE ratio of -580.63, a P/E/G ratio of 3.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The business has a fifty day moving average price of $25.85 and a two-hundred day moving average price of $25.41. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Friday, January 10th were issued a $0.27 dividend. The ex-dividend date was Friday, January 10th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 4.65%. Kite Realty Group Trust’s payout ratio is currently -2,700.00%.

Kite Realty Group Trust Company 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.