Zurcher Kantonalbank Zurich Cantonalbank Buys 48,480 Shares of Kite Realty Group Trust (NYSE:KRG)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 50.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,621 shares of the real estate investment trust's stock after buying an additional 48,480 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Kite Realty Group Trust worth $3,650,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KRG. Aew Capital Management L P bought a new stake in Kite Realty Group Trust in the fourth quarter valued at about $31,663,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Kite Realty Group Trust by 432.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust's stock valued at $36,150,000 after purchasing an additional 1,105,539 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $19,632,000. Franklin Resources Inc. raised its holdings in shares of Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust's stock worth $50,684,000 after buying an additional 673,976 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $7,486,000. Institutional investors and hedge funds own 90.81% of the company's stock.

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Wall Street Analysts Forecast Growth

KRG has been the topic of a number of analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company lowered their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of 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 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 note on Thursday, January 2nd. Finally, Raymond James cut their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.13.

Kite Realty Group Trust Price Performance

Shares of KRG stock traded up $0.31 during trading hours on Wednesday, reaching $22.39. 1,370,267 shares of the company were exchanged, compared to its average volume of 1,998,920. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The stock's fifty day moving average is $22.83 and its two-hundred day moving average is $25.03. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 1,119.30, a P/E/G ratio of 3.57 and a beta of 1.30.

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

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio is 5,400.00%.

Kite Realty Group Trust 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.