Retirement Guys Formula LLC acquired a new position in Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,903 shares of the real estate investment trust's stock, valued at approximately $300,000.
Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of Kite Realty Group Trust by 819.0% during the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 950 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Kite Realty Group Trust during the 3rd quarter valued at approximately $39,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Kite Realty Group Trust during the 3rd quarter valued at approximately $45,000. Versant Capital Management Inc increased its position in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock valued at $62,000 after purchasing an additional 2,080 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Kite Realty Group Trust by 15.8% during the 4th 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. Institutional investors own 90.81% of the company's stock.
Kite Realty Group Trust Stock Down 3.6 %
NYSE:KRG traded down $0.85 during mid-day trading on Friday, hitting $22.40. 3,816,868 shares of the company's stock traded hands, compared to its average volume of 1,896,697. The company has a fifty day moving average of $24.29 and a 200 day moving average of $25.45. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The company has a market capitalization of $4.92 billion, a P/E ratio of -559.88, a P/E/G ratio of 3.63 and a beta of 1.27. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 0.28% and a negative net margin of 1.18%. On average, analysts forecast that Kite Realty Group Trust will post 2.06 EPS for the current year.
Kite Realty Group Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio is presently -2,700.00%.
Analysts Set New Price Targets
Several research firms have recently weighed in on KRG. JPMorgan Chase & Co. cut their target price 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. KeyCorp upped their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Tuesday, November 12th. Jefferies Financial Group downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Robert W. Baird upped their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $28.13.
Get Our Latest Stock Analysis on Kite Realty Group Trust
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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