Mitsubishi UFJ Trust & Banking Corp Buys New Position in Kite Realty Group Trust (NYSE:KRG)

Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 13,790 shares of the real estate investment trust's stock, valued at approximately $348,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Kite Realty Group Trust by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock valued at $845,708,000 after acquiring an additional 256,476 shares during the last quarter. Geode Capital Management LLC raised its stake in Kite Realty Group Trust by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust's stock valued at $150,865,000 after purchasing an additional 43,015 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Kite Realty Group Trust by 2.0% in the 4th 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 purchasing an additional 73,926 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Kite Realty Group Trust by 51.5% in 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Kite Realty Group Trust by 432.7% during the 3rd 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. Hedge funds and other institutional investors own 90.81% of the company's stock.

Remove Ads

Kite Realty Group Trust Trading Down 3.0 %

Shares of NYSE:KRG traded down $0.63 during midday trading on Monday, reaching $20.17. 3,668,509 shares of the company's stock were exchanged, compared to its average volume of 1,617,006. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 1,008.50, a P/E/G ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The firm's 50 day simple moving average is $22.50 and its two-hundred day simple moving average is $24.63. 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 announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating 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, sell-side analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Raymond James cut 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 report on Monday, March 10th. Piper Sandler restated a "neutral" rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target 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. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and lowered 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $27.88.

Kite Realty Group Trust Company 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.