Entropy Technologies LP acquired a new stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 39,875 shares of the real estate investment trust's stock, valued at approximately $1,006,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in Kite Realty Group Trust by 55.7% in the second quarter. Creative Planning now owns 20,150 shares of the real estate investment trust's stock worth $451,000 after acquiring an additional 7,206 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Kite Realty Group Trust in the second quarter worth about $324,000. GAMMA Investing LLC boosted its holdings in Kite Realty Group Trust by 110.4% in the third quarter. GAMMA Investing LLC now owns 4,135 shares of the real estate investment trust's stock worth $110,000 after acquiring an additional 2,170 shares in the last quarter. UMB Bank n.a. boosted its holdings in Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 950 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Kite Realty Group Trust by 18.3% in the third quarter. Inspire Investing LLC now owns 18,708 shares of the real estate investment trust's stock worth $497,000 after acquiring an additional 2,889 shares in the last quarter. Institutional investors own 90.81% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Robert W. Baird raised their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Jefferies Financial Group cut Kite Realty Group Trust from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler restated a "neutral" rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $28.13.
Get Our Latest Stock Report on Kite Realty Group Trust
Kite Realty Group Trust Stock Performance
KRG stock traded down $0.85 during trading on Friday, hitting $22.40. 3,816,868 shares of the company traded hands, compared to its average volume of 2,148,346. The stock's 50-day simple moving average is $24.29 and its 200 day simple moving average is $25.45. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The company has a market cap of $4.92 billion, a PE ratio of -559.88, a P/E/G ratio of 3.63 and a beta of 1.27. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24.
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, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. On average, equities analysts expect that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.
Kite Realty Group Trust Announces Dividend
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 4.82%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio is currently -2,700.00%.
Kite Realty Group Trust Profile
(
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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