JPMorgan Chase & Co. Raises Stock Position in Kite Realty Group Trust (NYSE:KRG)

JPMorgan Chase & Co. raised its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,215,421 shares of the real estate investment trust's stock after acquiring an additional 2,308,613 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.56% of Kite Realty Group Trust worth $308,317,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Citigroup Inc. raised its holdings in Kite Realty Group Trust by 58.6% in the 3rd quarter. Citigroup Inc. now owns 227,242 shares of the real estate investment trust's stock worth $6,036,000 after purchasing an additional 83,963 shares in the last quarter. Cerity Partners LLC lifted its holdings in Kite Realty Group Trust by 105.1% in the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust's stock worth $1,279,000 after buying an additional 24,679 shares during the period. Quantbot Technologies LP bought a new position in Kite Realty Group Trust in the third quarter worth $728,000. FMR LLC grew its holdings in Kite Realty Group Trust by 2.6% in the third quarter. FMR LLC now owns 28,610 shares of the real estate investment trust's stock worth $760,000 after purchasing an additional 737 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Kite Realty Group Trust by 11.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 53,782 shares of the real estate investment trust's stock valued at $1,428,000 after buying an additional 5,447 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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Kite Realty Group Trust Price Performance

NYSE KRG traded down $0.79 on Friday, reaching $20.82. The company had a trading volume of 2,816,808 shares, compared to its average volume of 1,605,993. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $4.57 billion, a PE ratio of 1,040.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The firm's 50 day moving average price is $22.58 and its 200 day moving average price is $24.70.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders 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 annualized dividend and a yield of 5.19%. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 5,400.00%.

Analyst Upgrades and Downgrades

KRG has been the subject of a number of analyst reports. Raymond James reduced their price objective 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. JPMorgan Chase & Co. cut their price objective 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. Jefferies Financial Group cut Kite Realty Group Trust from a "buy" rating to a "hold" rating and dropped their target price for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Wells Fargo & Company reduced their price target on shares of 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. Finally, Piper Sandler reissued a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five research 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's stock. According to data from MarketBeat, Kite Realty Group Trust has a consensus rating of "Moderate Buy" and an average price target of $27.88.

Kite Realty Group Trust Profile

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.