Algert Global LLC Invests $7.25 Million in Kite Realty Group Trust (NYSE:KRG)

Algert Global LLC purchased a new position in Kite Realty Group Trust (NYSE:KRG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 287,309 shares of the real estate investment trust's stock, valued at approximately $7,252,000. Algert Global LLC owned about 0.13% of Kite Realty Group Trust as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kapitalo Investimentos Ltda purchased a new stake in shares of Kite Realty Group Trust in the fourth quarter worth $225,000. Northern Trust Corp increased its stake in Kite Realty Group Trust by 17.5% during the 4th quarter. Northern Trust Corp now owns 3,623,860 shares of the real estate investment trust's stock valued at $91,466,000 after purchasing an additional 539,322 shares in the last quarter. Optiver Holding B.V. raised its holdings in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after buying an additional 467 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Kite Realty Group Trust by 39.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 28,712 shares of the real estate investment trust's stock worth $725,000 after buying an additional 8,135 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Kite Realty Group Trust by 16.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 732,691 shares of the real estate investment trust's stock worth $18,493,000 after buying an additional 103,485 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock remained flat at $22.45 during trading hours on Friday. The company's stock had a trading volume of 1,755,334 shares, compared to its average volume of 1,679,994. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 1,122.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The business's 50 day moving average is $21.73 and its 200 day moving average is $23.80.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $221.76 million for the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. Sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.81%. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 1,542.86%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KRG shares. JPMorgan Chase & Co. decreased their price objective 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. 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 report on Thursday, February 13th. Wells Fargo & Company reduced their price objective on 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. Finally, Raymond James lowered 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. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.88.

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.