Resona Asset Management Co. Ltd. bought a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 87,761 shares of the real estate investment trust's stock, valued at approximately $2,200,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of KRG. Norges Bank bought a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $91,335,000. Centersquare Investment Management LLC bought a new stake in Kite Realty Group Trust in the fourth quarter worth $64,403,000. JPMorgan Chase & Co. boosted its stake in Kite Realty Group Trust by 23.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after buying an additional 2,308,613 shares during the period. Aew Capital Management L P bought a new position in Kite Realty Group Trust during the fourth quarter valued at $31,663,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at $19,632,000. 90.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently commented on KRG. Piper Sandler reaffirmed a "neutral" rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company reduced 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 report on Wednesday, March 26th. Jefferies Financial Group lowered 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 research note on Thursday, January 2nd. Finally, Raymond James cut their price objective on 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. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of "Moderate Buy" and an average target price of $27.88.
Read Our Latest Analysis on KRG
Kite Realty Group Trust Trading Up 1.1 %
Shares of NYSE KRG traded up $0.24 during trading hours on Tuesday, reaching $20.83. The stock had a trading volume of 229,432 shares, compared to its average volume of 1,639,151. Kite Realty Group Trust has a 52-week low of $17.73 and a 52-week high of $28.24. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 1,038.85, a P/E/G ratio of 3.57 and a beta of 1.05. The business's fifty day moving average price is $22.08 and its two-hundred day moving average price is $24.33. 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 issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share 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%. Analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.
Kite Realty Group Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis 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
(
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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