Raymond James Financial Inc. acquired a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 777,796 shares of the real estate investment trust's stock, valued at approximately $19,632,000. Raymond James Financial Inc. owned 0.35% of Kite Realty Group Trust as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KRG. Wilmington Savings Fund Society FSB bought a new stake in shares of Kite Realty Group Trust during the third quarter valued at about $39,000. Versant Capital Management Inc increased its position in shares of Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC bought a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $101,000. GAMMA Investing LLC increased its position in shares of 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 buying an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in shares of Kite Realty Group Trust by 19.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust's stock valued at $187,000 after buying an additional 1,210 shares during the period. 90.81% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased 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 decreased their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Raymond James decreased their price objective 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 report on Monday, March 10th. Finally, Piper Sandler restated a "neutral" rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kite Realty Group Trust currently has an average rating of "Moderate Buy" and an average target price of $28.13.
Read Our Latest Stock Report on KRG
Kite Realty Group Trust Trading Up 0.1 %
Shares of NYSE:KRG traded up $0.02 during trading on Thursday, reaching $22.43. 1,597,713 shares of the company traded hands, compared to its average volume of 1,510,817. The business's fifty day moving average is $22.81 and its 200-day moving average is $25.01. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 1,121.25, a P/E/G ratio of 3.57 and a beta of 1.30. 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 announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts' consensus estimates 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, analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.
Kite Realty Group Trust Dividend Announcement
The firm also recently declared 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. This represents a $1.08 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 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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