Moran Wealth Management LLC Has $2.42 Million Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Moran Wealth Management LLC decreased its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 10.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,220 shares of the real estate investment trust’s stock after selling 12,453 shares during the period. Moran Wealth Management LLC’s holdings in Kite Realty Group Trust were worth $2,418,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CENTRAL TRUST Co raised its holdings in Kite Realty Group Trust by 91.4% during the third quarter. CENTRAL TRUST Co now owns 1,675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 800 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Kite Realty Group Trust in the first quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kite Realty Group Trust by 107.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,631 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 846 shares during the last quarter. WealthPLAN Partners LLC purchased a new stake in shares of Kite Realty Group Trust in the first quarter valued at about $36,000. Finally, BOKF NA purchased a new stake in shares of Kite Realty Group Trust in the first quarter valued at about $36,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $20.66 on Tuesday. Kite Realty Group Trust has a 52-week low of $18.77 and a 52-week high of $24.26. The company has a 50-day simple moving average of $21.13 and a 200 day simple moving average of $21.59. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $4.53 billion, a PE ratio of 121.53, a price-to-earnings-growth ratio of 3.83 and a beta of 1.41.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, January 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Thursday, January 4th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.24. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 588.24%.

Wall Street Analyst Weigh In

Several analysts have recently commented on KRG shares. StockNews.com started coverage on shares of Kite Realty Group Trust in a report on Thursday, October 5th. They issued a “hold” rating for the company. Raymond James downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, September 5th. Wells Fargo & Company lowered their target price on shares of Kite Realty Group Trust from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, November 13th. Finally, Bank of America increased their target price on shares of Kite Realty Group Trust from $26.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.57.

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.