Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 37.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,737 shares of the real estate investment trust's stock after purchasing an additional 32,619 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of Kite Realty Group Trust worth $2,997,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Aew Capital Management L P acquired a new position in Kite Realty Group Trust in the 4th quarter valued at $31,663,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Kite Realty Group Trust by 432.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust's stock valued at $36,150,000 after acquiring an additional 1,105,539 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $19,632,000. Franklin Resources Inc. boosted its position in shares of Kite Realty Group Trust by 51.5% in the third quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust's stock worth $50,684,000 after acquiring an additional 673,976 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in Kite Realty Group Trust in the third quarter valued at approximately $7,486,000. 90.81% of the stock is owned by institutional investors and hedge funds.
Kite Realty Group Trust Stock Up 0.5 %
NYSE:KRG traded up $0.11 during trading hours on Thursday, hitting $22.77. The stock had a trading volume of 129,344 shares, compared to its average volume of 1,499,902. The business has a 50 day simple moving average of $22.76 and a two-hundred day simple moving average of $24.89. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The company has a market cap of $5.00 billion, a PE ratio of 1,138.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results 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%. Analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.
Kite Realty Group Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 4.74%. Kite Realty Group Trust's dividend payout ratio is presently 5,400.00%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on KRG. Piper Sandler reiterated a "neutral" rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Jefferies Financial Group downgraded 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 research report on Thursday, January 2nd. Raymond James cut their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Wells Fargo & Company dropped their target price 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. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $27.88.
Read Our Latest Analysis on Kite Realty Group Trust
Kite Realty Group Trust Company 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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