Corebridge Financial Inc. Decreases Stake in Kite Realty Group Trust (NYSE:KRG)

Corebridge Financial Inc. decreased its holdings in Kite Realty Group Trust (NYSE:KRG) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 354,997 shares of the real estate investment trust’s stock after selling 19,232 shares during the quarter. Corebridge Financial Inc. owned about 0.16% of Kite Realty Group Trust worth $8,960,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of KRG. Proficio Capital Partners LLC acquired a new position in shares of Kite Realty Group Trust during the 4th quarter worth $1,180,000. Charles Schwab Investment Management Inc. boosted its holdings in Kite Realty Group Trust by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock worth $94,039,000 after buying an additional 73,926 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Kite Realty Group Trust during the fourth quarter worth about $19,632,000. New York State Common Retirement Fund increased its holdings in Kite Realty Group Trust by 18.6% in the fourth 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 buying an additional 17,015 shares in the last quarter. Finally, Aew Capital Management L P acquired a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at approximately $31,663,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KRG. Piper Sandler restated a “neutral” rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Wells Fargo & Company lowered their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price target for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Raymond James decreased their price objective 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 report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Kite Realty Group Trust Trading Down 0.3 %

Kite Realty Group Trust stock opened at $22.59 on Friday. The stock has a 50-day moving average price of $22.75 and a 200 day moving average price of $24.88. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The stock has a market cap of $4.96 billion, a PE ratio of 1,129.60, a P/E/G ratio of 3.57 and a beta of 1.30. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

About Kite Realty Group Trust

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.