Kite Realty Group Trust (NYSE:KRG) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. raised its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 199.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 279,050 shares of the real estate investment trust's stock after buying an additional 185,783 shares during the quarter. Prudential Financial Inc. owned approximately 0.13% of Kite Realty Group Trust worth $7,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. EMC Capital Management increased its holdings in shares of Kite Realty Group Trust by 4.9% in the 4th quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust's stock valued at $242,000 after acquiring an additional 447 shares during the period. Fifth Third Bancorp increased its stake in Kite Realty Group Trust by 2.6% in the fourth quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust's stock valued at $465,000 after purchasing an additional 466 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Kite Realty Group Trust by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust's stock valued at $2,554,000 after buying an additional 483 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Kite Realty Group Trust by 0.8% during the fourth quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust's stock worth $1,609,000 after buying an additional 516 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of Kite Realty Group Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 129,014 shares of the real estate investment trust's stock worth $3,255,000 after buying an additional 636 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on 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. JPMorgan Chase & Co. decreased 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. Piper Sandler reissued a "neutral" rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and reduced their target price for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, Raymond James dropped their price target on shares of 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. Five investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.88.

Kite Realty Group Trust Price Performance

Shares of KRG traded down $0.79 during trading hours on Friday, reaching $20.82. The company had a trading volume of 2,816,808 shares, compared to its average volume of 1,605,993. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 1,040.75, a PEG ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The firm has a 50 day simple moving average of $22.58 and a 200-day simple moving average of $24.70. 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 (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, 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%. Research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current 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 issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 5,400.00%.

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.