Central Pacific Bank Trust Division Acquires Shares of 6,190 Kite Realty Group Trust (NYSE:KRG)

Central Pacific Bank Trust Division purchased a new stake in Kite Realty Group Trust (NYSE:KRG) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,190 shares of the real estate investment trust’s stock, valued at approximately $131,000.

A number of other institutional investors have also made changes to their positions in KRG. Pineridge Advisors LLC bought a new stake in Kite Realty Group Trust during the 4th quarter worth about $39,000. Wolverine Asset Management LLC raised its holdings in Kite Realty Group Trust by 280.5% during the 4th quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,327 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust during the 1st quarter worth about $42,000. Blue Trust Inc. raised its holdings in Kite Realty Group Trust by 41.7% during the 4th quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 742 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in Kite Realty Group Trust during the 4th quarter worth about $107,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Up 0.7 %

Shares of KRG traded up $0.16 on Wednesday, hitting $21.92. The company’s stock had a trading volume of 63,789 shares, compared to its average volume of 1,688,617. 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 firm’s fifty day moving average price is $21.64 and its 200-day moving average price is $21.52. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $24.26. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 83.73, a P/E/G ratio of 5.59 and a beta of 1.31.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Tuesday, July 9th will be given a $0.25 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.00 annualized dividend and a dividend yield of 4.56%. Kite Realty Group Trust’s dividend payout ratio is presently 384.63%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a report on Tuesday, May 28th. Jefferies Financial Group upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Thursday, April 18th. One equities 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.