California Public Employees Retirement System lowered its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 364,090 shares of the real estate investment trust's stock after selling 36,037 shares during the quarter. California Public Employees Retirement System owned 0.17% of Kite Realty Group Trust worth $9,190,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in KRG. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust in the third quarter valued at about $39,000. Versant Capital Management Inc lifted its position in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC acquired a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at approximately $101,000. GAMMA Investing LLC boosted its stake in shares of Kite Realty Group Trust by 15.8% during the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust's stock worth $121,000 after acquiring an additional 652 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Kite Realty Group Trust by 19.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust's stock worth $187,000 after acquiring an additional 1,210 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.
Kite Realty Group Trust Trading Up 1.0 %
KRG traded up $0.20 during trading on Friday, hitting $20.47. 1,852,865 shares of the company's stock were exchanged, compared to its average volume of 1,641,909. Kite Realty Group Trust has a 1 year low of $18.52 and a 1 year high of $28.24. The stock has a 50 day moving average price of $22.13 and a 200 day moving average price of $24.38. The firm has a market cap of $4.50 billion, a P/E ratio of 1,023.40, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share 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%. As a group, analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.
Kite Realty Group Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 5,400.00%.
Analyst Ratings Changes
KRG has been the subject of several research reports. Wells Fargo & Company cut their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Raymond James reduced their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a 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. JPMorgan Chase & Co. reduced their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Finally, Piper Sandler reissued a "neutral" rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Five investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $27.88.
View Our Latest Stock Report on Kite Realty Group Trust
Kite Realty Group Trust Company Profile
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Free Report)
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.
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