Allstate Corp Acquires Shares of 55,553 Kite Realty Group Trust (NYSE:KRG)

Allstate Corp bought a new position in Kite Realty Group Trust (NYSE:KRG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 55,553 shares of the real estate investment trust's stock, valued at approximately $1,402,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Kite Realty Group Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock worth $845,708,000 after purchasing an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. raised its position in Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after buying an additional 2,308,613 shares during the last quarter. Geode Capital Management LLC lifted its stake in Kite Realty Group Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust's stock valued at $150,865,000 after acquiring an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Kite Realty Group Trust by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust's stock valued at $94,039,000 after acquiring an additional 73,926 shares during the period. Finally, Norges Bank purchased a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at $91,335,000. Institutional investors and hedge funds own 90.81% of the company's stock.

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Kite Realty Group Trust Price Performance

NYSE KRG traded down $0.79 on Friday, hitting $20.82. The company had a trading volume of 2,816,808 shares, compared to its average volume of 1,605,993. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The company's fifty day moving average price is $22.58 and its 200-day moving average price is $24.70. The company has a market capitalization of $4.57 billion, a PE ratio of 1,040.75, a PEG ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating 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%. As a group, analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio is currently 5,400.00%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KRG. JPMorgan Chase & Co. decreased 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 research report on Wednesday, January 15th. 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 research note on Wednesday, March 26th. Raymond James reduced their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research report on Monday, March 10th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler reissued a "neutral" rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.88.

Kite Realty Group Trust 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.