Centersquare Investment Management LLC bought a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,551,630 shares of the real estate investment trust's stock, valued at approximately $64,403,000. Centersquare Investment Management LLC owned approximately 1.16% of Kite Realty Group Trust as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Proficio Capital Partners LLC acquired a new stake in Kite Realty Group Trust in the fourth quarter valued at $1,180,000. Charles Schwab Investment Management Inc. raised its stake in shares of Kite Realty Group Trust by 2.0% in 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 purchasing an additional 73,926 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $19,632,000. New York State Common Retirement Fund grew its stake in Kite Realty Group Trust by 18.6% in the fourth quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust's stock worth $2,741,000 after purchasing an additional 17,015 shares in the last quarter. Finally, Aew Capital Management L P bought a new stake in Kite Realty Group Trust in the fourth quarter valued at about $31,663,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.
Kite Realty Group Trust Stock Performance
KRG traded down $0.63 during trading hours on Monday, hitting $20.17. The company's stock had a trading volume of 3,668,509 shares, compared to its average volume of 1,617,005. 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 has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The company has a 50-day simple moving average of $22.58 and a 200 day simple moving average of $24.67. The firm has a market capitalization of $4.43 billion, a PE ratio of 1,008.50, a PEG ratio of 3.57 and a beta of 1.05.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.
Kite Realty Group Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 5.35%. Kite Realty Group Trust's payout ratio is 5,400.00%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on KRG. Wells Fargo & Company decreased their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and reduced their price target for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on shares of 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. Raymond James dropped their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research report on Monday, March 10th. Finally, Piper Sandler restated a "neutral" rating and set a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.88.
Read Our Latest Analysis on Kite Realty Group Trust
About Kite Realty Group Trust
(
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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