Thornburg Investment Management Inc. Trims Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Thornburg Investment Management Inc. lowered its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 444,493 shares of the real estate investment trust’s stock after selling 24,324 shares during the quarter. Thornburg Investment Management Inc. owned 0.20% of Kite Realty Group Trust worth $9,622,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Duality Advisers LP bought a new position in Kite Realty Group Trust in the fourth quarter worth approximately $973,000. LSV Asset Management grew its position in shares of Kite Realty Group Trust by 33.4% during the 4th quarter. LSV Asset Management now owns 917,000 shares of the real estate investment trust’s stock worth $20,963,000 after buying an additional 229,788 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Kite Realty Group Trust by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock valued at $76,448,000 after buying an additional 90,897 shares during the period. Wellington Management Group LLP bought a new stake in shares of Kite Realty Group Trust in the third quarter valued at about $8,160,000. Finally, Entropy Technologies LP purchased a new stake in Kite Realty Group Trust in the first quarter worth about $594,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 2.2 %

Shares of Kite Realty Group Trust stock traded down $0.52 on Wednesday, reaching $23.60. The stock had a trading volume of 1,291,801 shares, compared to its average volume of 1,661,073. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $24.26. The company has a 50 day moving average price of $22.09 and a 200 day moving average price of $21.57. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $5.18 billion, a P/E ratio of 90.77, a P/E/G ratio of 6.05 and a beta of 1.31.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Tuesday, July 9th. Kite Realty Group Trust’s payout ratio is presently 384.63%.

Analyst Ratings Changes

Several equities research analysts have recently commented on KRG shares. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Thursday, April 18th. Wells Fargo & Company boosted their price objective on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.00.

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.