Magnetar Financial LLC 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 26,839 shares of the real estate investment trust's stock, valued at approximately $677,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KRG. Aew Capital Management L P bought a new position in shares of Kite Realty Group Trust during the 4th quarter valued at $31,663,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Kite Realty Group Trust by 432.7% in the third 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 worth $36,150,000 after purchasing an additional 1,105,539 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at about $19,632,000. Franklin Resources Inc. increased its position in shares of Kite Realty Group Trust by 51.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust's stock valued at $50,684,000 after purchasing an additional 673,976 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Kite Realty Group Trust in the 3rd quarter worth approximately $7,486,000. Hedge funds and other institutional investors own 90.81% of the company's stock.
Analyst Ratings Changes
KRG has been the subject of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Raymond James lowered 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 research report on Monday, March 10th. Piper Sandler restated a "neutral" rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price objective on 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. Five research 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 stock. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and an average target price of $27.88.
Check Out Our Latest Stock Analysis on KRG
Kite Realty Group Trust Price Performance
Shares of NYSE KRG traded up $0.14 during mid-day trading on Wednesday, reaching $22.66. The company's stock had a trading volume of 1,225,243 shares, compared to its average volume of 1,505,221. 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 has a 52 week low of $19.64 and a 52 week high of $28.24. The stock has a fifty day moving average of $22.76 and a two-hundred day moving average of $24.91. The firm has a market capitalization of $4.98 billion, a PE ratio of 1,132.75, a P/E/G ratio of 3.57 and a beta of 1.30.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts' consensus estimates 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 anticipate that Kite Realty Group Trust will post 2.05 EPS 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 paid 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 4.77%. Kite Realty Group Trust's payout ratio is 5,400.00%.
Kite Realty Group Trust Company Profile
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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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