3,618,671 Shares in Kite Realty Group Trust (NYSE:KRG) Purchased by Norges Bank

Norges Bank purchased a new position in Kite Realty Group Trust (NYSE:KRG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,618,671 shares of the real estate investment trust's stock, valued at approximately $91,335,000. Norges Bank owned approximately 1.65% of Kite Realty Group Trust at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KRG. Vanguard Group Inc. raised its holdings in Kite Realty Group Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock worth $845,708,000 after purchasing an additional 256,476 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings 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 buying an additional 2,308,613 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 worth $150,865,000 after buying an additional 43,015 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kite Realty Group Trust by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust's stock worth $94,039,000 after acquiring an additional 73,926 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Kite Realty Group Trust by 51.5% during the third quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust's stock valued at $50,684,000 after acquiring an additional 673,976 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut 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 report on Wednesday, January 15th. 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 research note on Thursday, February 13th. Wells Fargo & Company decreased their price target 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. Raymond James dropped their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research note on Monday, March 10th. Finally, Jefferies Financial Group lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price objective for the company from $31.00 to $27.00 in a research 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 given a strong buy rating to the company. According to MarketBeat.com, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and an average price target of $27.88.

Kite Realty Group Trust Stock Performance

Shares of KRG stock traded down $0.63 during mid-day trading on Monday, reaching $20.17. The stock had a trading volume of 3,668,509 shares, compared to its average volume of 1,617,006. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 1,008.50, a PEG ratio of 3.57 and a beta of 1.05. The business's fifty day moving average is $22.50 and its 200-day moving average is $24.63.

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 earnings per share (EPS) 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%. On average, research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The firm 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 of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.35%. Kite Realty Group Trust's dividend payout ratio is presently 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.