Ontario Teachers Pension Plan Board acquired a new position in Kite Realty Group Trust (NYSE:KRG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,009 shares of the real estate investment trust's stock, valued at approximately $1,060,000.
A number of other hedge funds also recently bought and sold shares of KRG. Norges Bank bought a new position in shares of Kite Realty Group Trust in the 4th quarter worth $91,335,000. Centersquare Investment Management LLC purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $64,403,000. 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. Aew Capital Management L P purchased a new position in shares of Kite Realty Group Trust in the 4th quarter worth approximately $31,663,000. Finally, Invesco Ltd. raised its stake in shares of Kite Realty Group Trust by 36.5% during the 4th quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock worth $75,038,000 after acquiring an additional 794,651 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on KRG. JPMorgan Chase & Co. reduced their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a research 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 note on Wednesday, March 26th. Raymond James lowered their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research note on Monday, March 10th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price target for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, 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. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and a consensus price target of $27.88.
View Our Latest Research Report on Kite Realty Group Trust
Kite Realty Group Trust Stock Performance
KRG traded down $0.21 during midday trading on Monday, hitting $21.16. 98,359 shares of the company were exchanged, compared to its average volume of 1,629,871. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 1,057.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The company's 50 day simple moving average is $21.90 and its 200 day simple moving average is $24.19. 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 $18.52 and a 1-year high of $28.24.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 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%. As a group, sell-side analysts predict 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 was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend was Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 5,400.00%.
About Kite Realty Group Trust
(
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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