Employees Retirement System of Texas lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 110.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 202,000 shares of the real estate investment trust's stock after acquiring an additional 106,000 shares during the period. Employees Retirement System of Texas owned 0.09% of Kite Realty Group Trust worth $5,098,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in KRG. Norges Bank purchased a new position in Kite Realty Group Trust in the 4th quarter valued at about $91,335,000. Centersquare Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $64,403,000. JPMorgan Chase & Co. lifted its stake in shares of Kite Realty Group Trust by 23.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after buying an additional 2,308,613 shares during the period. Aew Capital Management L P purchased a new position in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $31,663,000. Finally, Raymond James Financial Inc. acquired a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $19,632,000. Institutional investors and hedge funds own 90.81% of the company's stock.
Kite Realty Group Trust Trading Up 1.0 %
KRG traded up $0.20 on Friday, reaching $20.47. 1,852,865 shares of the company's stock were exchanged, compared to its average volume of 1,642,380. Kite Realty Group Trust has a twelve month low of $18.52 and a twelve month high of $28.24. The company's 50 day moving average is $22.13 and its 200-day moving average is $24.37. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 1,023.40, a PEG ratio of 3.57 and a beta of 1.05.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.28%. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 5,400.00%.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Raymond James cut 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 report on Monday, March 10th. Wells Fargo & Company reduced 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 report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price target 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. Piper Sandler reaffirmed 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 note on Thursday, February 13th. Finally, Jefferies Financial Group lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Five equities 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.com, Kite Realty Group Trust has a consensus rating of "Moderate Buy" and a consensus price target of $27.88.
Read Our Latest Report 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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