Algert Global LLC Takes Position in Kite Realty Group Trust (NYSE:KRG)

Algert Global LLC acquired a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth approximately $39,000. Versant Capital Management Inc raised its stake in shares of 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 valued at $62,000 after buying an additional 2,080 shares during the period. Optiver Holding B.V. lifted its position in shares of Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 467 shares during the last quarter. FIL Ltd increased its holdings in Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 579 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC bought a new stake in Kite Realty Group Trust in the 4th quarter valued at about $101,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

NYSE:KRG traded up $0.26 during trading hours on Wednesday, hitting $22.40. 2,360,276 shares of the company's stock traded hands, compared to its average volume of 1,671,656. Kite Realty Group Trust has a 52 week low of $18.52 and a 52 week high of $28.24. The business's fifty day simple moving average is $21.77 and its two-hundred day simple moving average is $23.87. 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 firm has a market cap of $4.92 billion, a P/E ratio of 1,120.00, a P/E/G ratio of 3.57 and a beta of 1.10.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $221.76 million during 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%. On average, research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 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 of this dividend is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is 1,542.86%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of 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. Piper Sandler reiterated a "neutral" rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, Raymond James reduced their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research report on Monday, March 10th. Five 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. According to MarketBeat.com, Kite Realty Group Trust has a consensus rating of "Moderate Buy" and a consensus target price 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.