Wells Fargo & Company MN Has $4.21 Million Holdings in Kite Realty Group Trust (NYSE:KRG)

Wells Fargo & Company MN raised its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 18.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 166,842 shares of the real estate investment trust's stock after buying an additional 25,671 shares during the period. Wells Fargo & Company MN owned about 0.08% of Kite Realty Group Trust worth $4,211,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EMC Capital Management raised its holdings in Kite Realty Group Trust by 4.9% during the 4th 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 last quarter. Fifth Third Bancorp grew its holdings in 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 worth $465,000 after acquiring an additional 466 shares during the period. Arizona State Retirement System raised its position in shares of Kite Realty Group Trust by 0.8% during the 4th 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 boosted its position in shares of Kite Realty Group Trust by 0.5% in the 4th 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 purchasing an additional 636 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 652 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KRG. Jefferies Financial Group cut 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 note on Thursday, January 2nd. Piper Sandler restated a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company lowered their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, Raymond James dropped their price objective on shares of 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. Five investment 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.88.

Kite Realty Group Trust Stock Down 0.2 %

KRG stock traded down $0.04 during mid-day trading on Friday, reaching $21.84. The company had a trading volume of 1,469,045 shares, compared to its average volume of 1,641,957. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 1,092.00, a PEG ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a 52 week low of $18.52 and a 52 week high of $28.24. The stock has a 50 day simple moving average of $21.79 and a two-hundred day simple moving average of $24.07. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.

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

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.95%. Kite Realty Group Trust's payout ratio is 5,400.00%.

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.