Hsbc Holdings PLC raised its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 41.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 409,648 shares of the real estate investment trust's stock after buying an additional 119,841 shares during the period. Hsbc Holdings PLC owned about 0.19% of Kite Realty Group Trust worth $10,321,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Kite Realty Group Trust during the 4th quarter worth $91,335,000. Centersquare Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $64,403,000. JPMorgan Chase & Co. boosted its position in shares of Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after purchasing an additional 2,308,613 shares during the period. Aew Capital Management L P acquired a new stake in Kite Realty Group Trust during the 4th quarter worth about $31,663,000. Finally, Invesco Ltd. lifted its stake in Kite Realty Group Trust by 36.5% during the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock valued at $75,038,000 after buying an additional 794,651 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.
Kite Realty Group Trust Price Performance
Shares of NYSE:KRG opened at $21.84 on Monday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 1,092.00, a P/E/G ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a 1 year low of $18.52 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 business has a fifty day simple moving average of $21.79 and a 200 day simple moving average of $24.05.
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 (EPS) 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, sell-side analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.
Kite Realty Group Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.95%. Kite Realty Group Trust's dividend payout ratio (DPR) is 5,400.00%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Piper Sandler reissued a "neutral" rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. 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 on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced their target price 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. Wells Fargo & Company dropped their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.88.
Read Our Latest Research Report on KRG
Kite Realty Group Trust 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.
Further Reading
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