Kite Realty Group Trust (NYSE:KRG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 32.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,625,354 shares of the real estate investment trust's stock after acquiring an additional 643,172 shares during the period. Franklin Resources Inc. owned 1.20% of Kite Realty Group Trust worth $66,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EMC Capital Management raised its stake in Kite Realty Group Trust by 4.9% during the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust's stock worth $242,000 after purchasing an additional 447 shares during the period. Fifth Third Bancorp raised its position in shares of Kite Realty Group Trust by 2.6% during the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust's stock valued at $465,000 after buying an additional 466 shares during the period. Arizona State Retirement System lifted its holdings in Kite Realty Group Trust by 0.8% in the fourth quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust's stock valued at $1,609,000 after acquiring an additional 516 shares during the last quarter. State of Alaska Department of Revenue grew its position in Kite Realty Group Trust by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 129,014 shares of the real estate investment trust's stock worth $3,255,000 after acquiring an additional 636 shares during the period. Finally, GAMMA Investing LLC increased its stake in Kite Realty Group Trust by 15.8% during the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust's stock worth $121,000 after acquiring an additional 652 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $21.64 on Friday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 1,081.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The company has a fifty day simple moving average of $22.64 and a two-hundred day simple moving average of $24.74.

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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 for the quarter, topping 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 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors 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 yield of 4.99%. Kite Realty Group Trust's dividend payout ratio is currently 5,400.00%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Piper Sandler reaffirmed a "neutral" rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of 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. Raymond James lowered 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 report on Monday, March 10th. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their target price for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Kite Realty Group Trust presently has an average 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.

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