Proficio Capital Partners LLC bought a new stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,770 shares of the real estate investment trust's stock, valued at approximately $1,180,000.
Several other large investors also recently modified their holdings of KRG. EMC Capital Management grew its holdings in Kite Realty Group Trust by 4.9% during the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust's stock valued at $242,000 after purchasing an additional 447 shares during the period. Fifth Third Bancorp grew its stake in shares of Kite Realty Group Trust by 2.6% during the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust's stock worth $465,000 after acquiring an additional 466 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Kite Realty Group Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust's stock worth $2,554,000 after acquiring an additional 483 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Kite Realty Group Trust by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 129,014 shares of the real estate investment trust's stock valued at $3,255,000 after acquiring an additional 636 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Kite Realty Group Trust by 15.8% during the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 652 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.
Kite Realty Group Trust Price Performance
Shares of NYSE:KRG traded up $0.65 on Monday, hitting $22.74. The company's stock had a trading volume of 1,244,318 shares, compared to its average volume of 1,505,524. The company has a market capitalization of $4.99 billion, a PE ratio of 1,136.80, a PEG ratio of 3.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The company has a 50-day simple moving average of $22.77 and a 200 day simple moving average of $24.95. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its 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%. 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. Investors of record on Wednesday, April 9th will be paid a $0.27 dividend. 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 4.75%. Kite Realty Group Trust's dividend payout ratio is presently 5,400.00%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on KRG. Wells Fargo & Company reduced their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Raymond James reduced 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 research note on Monday, March 10th. Jefferies Financial Group downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating and dropped their target price for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Piper Sandler reiterated a "neutral" rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price objective on 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. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $28.13.
Read Our Latest Report on KRG
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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