KLP Kapitalforvaltning AS Invests $1.33 Million in Kite Realty Group Trust (NYSE:KRG)

KLP Kapitalforvaltning AS acquired a new stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,795 shares of the real estate investment trust's stock, valued at approximately $1,333,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new position in shares of Kite Realty Group Trust during the 4th quarter valued at $1,180,000. Charles Schwab Investment Management Inc. increased its position in Kite Realty Group Trust by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust's stock valued at $94,039,000 after acquiring an additional 73,926 shares during the last quarter. Raymond James Financial Inc. bought a new position in Kite Realty Group Trust in the fourth quarter valued at about $19,632,000. New York State Common Retirement Fund boosted its position in Kite Realty Group Trust by 18.6% in the fourth quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust's stock worth $2,741,000 after purchasing an additional 17,015 shares during the last quarter. Finally, Aew Capital Management L P bought a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at about $31,663,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

KRG stock traded down $1.23 during trading on Thursday, reaching $21.64. The company's stock had a trading volume of 2,302,629 shares, compared to its average volume of 1,599,195. 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 company's fifty day moving average is $22.64 and its 200-day moving average is $24.74. The company has a market capitalization of $4.75 billion, a P/E ratio of 1,081.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24.

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Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its 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 return on equity of 0.12% and a net margin of 0.48%. On average, research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.99%. Kite Realty Group Trust's dividend payout ratio is 5,400.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on KRG. Wells Fargo & Company lowered their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped 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. Piper Sandler reissued a "neutral" rating and set 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. Raymond James decreased their target price 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. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.88.

About Kite Realty Group Trust

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.