Invesco Ltd. raised its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 36.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,972,981 shares of the real estate investment trust's stock after purchasing an additional 794,651 shares during the quarter. Invesco Ltd. owned 1.35% of Kite Realty Group Trust worth $75,038,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Kite Realty Group Trust in the 4th quarter valued at about $91,335,000. Centersquare Investment Management LLC acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter worth $64,403,000. JPMorgan Chase & Co. lifted its position in shares of Kite Realty Group Trust by 23.3% in the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after purchasing an additional 2,308,613 shares in the last quarter. Aew Capital Management L P purchased a new position in shares of Kite Realty Group Trust during the 4th quarter valued at $31,663,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at about $19,632,000. Hedge funds and other institutional investors own 90.81% of the company's stock.
Kite Realty Group Trust Stock Performance
NYSE KRG traded up $0.32 on Friday, hitting $21.36. 2,202,802 shares of the stock traded hands, compared to its average volume of 1,641,532. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. 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 business's fifty day moving average is $21.90 and its two-hundred day moving average is $24.22. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 1,067.80, a PEG ratio of 3.57 and a beta of 1.05.
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 return on equity of 0.12% and a net margin of 0.48%. As a group, equities analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.
Kite Realty Group Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.
Wall Street Analyst Weigh In
KRG has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Raymond James reduced their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research note on Monday, March 10th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and lowered their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler reiterated a "neutral" rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $27.88.
Check Out 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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