Raymond James Financial Inc. Purchases New Holdings in Kite Realty Group Trust (NYSE:KRG)

Raymond James Financial Inc. purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 777,796 shares of the real estate investment trust's stock, valued at approximately $19,632,000. Raymond James Financial Inc. owned approximately 0.35% of Kite Realty Group Trust as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Kite Realty Group Trust by 29.0% in the third quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust's stock valued at $25,139,000 after purchasing an additional 212,983 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Kite Realty Group Trust by 60.3% during the third quarter. Sanctuary Advisors LLC now owns 24,451 shares of the real estate investment trust's stock worth $670,000 after acquiring an additional 9,201 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Kite Realty Group Trust during the third quarter valued at $39,000. Franklin Resources Inc. boosted its holdings in Kite Realty Group Trust by 51.5% in 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. Finally, Versant Capital Management Inc increased its position in Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 2,080 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Stock Down 0.5 %

Shares of NYSE:KRG traded down $0.12 during midday trading on Friday, reaching $21.77. 234,917 shares of the company were exchanged, compared to its average volume of 2,063,413. The firm has a market cap of $4.78 billion, a PE ratio of 1,088.25, a P/E/G ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24. The stock has a fifty day simple moving average of $21.81 and a two-hundred day simple moving average of $24.10. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating 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, sell-side analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio is presently 5,400.00%.

Wall Street Analysts Forecast Growth

KRG has been the topic of several recent research reports. Raymond James reduced their target price 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. Wells Fargo & Company lowered their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective 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. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price target for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Finally, Piper Sandler reissued a "neutral" rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five investment 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $27.88.

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.