Ameriprise Financial Inc. Raises Stock Position in Kite Realty Group Trust (NYSE:KRG)

Ameriprise Financial Inc. boosted its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,210,594 shares of the real estate investment trust's stock after acquiring an additional 102,665 shares during the quarter. Ameriprise Financial Inc. owned 0.55% of Kite Realty Group Trust worth $30,555,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Algert Global LLC bought a new stake in Kite Realty Group Trust in the fourth quarter valued at $7,252,000. Kapitalo Investimentos Ltda bought a new stake in Kite Realty Group Trust in the fourth quarter valued at $225,000. Northern Trust Corp increased its position in shares of Kite Realty Group Trust by 17.5% during the fourth quarter. Northern Trust Corp now owns 3,623,860 shares of the real estate investment trust's stock worth $91,466,000 after acquiring an additional 539,322 shares in the last quarter. Optiver Holding B.V. increased its position in shares of Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 467 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its holdings in Kite Realty Group Trust by 39.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 28,712 shares of the real estate investment trust's stock worth $725,000 after purchasing an additional 8,135 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Trading Down 0.6%

Shares of KRG traded down $0.15 during midday trading on Monday, hitting $23.02. The stock had a trading volume of 646,941 shares, compared to its average volume of 1,686,621. The firm has a market cap of $5.06 billion, a PE ratio of 1,151.00, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a 1 year low of $18.52 and a 1 year high of $28.24. The stock's 50 day moving average is $21.82 and its 200 day moving average is $23.66. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. The business had revenue of $221.76 million for the quarter, compared to the consensus estimate of $211.07 million. As a group, analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.

Analyst Ratings Changes

KRG has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Raymond James cut their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a report on Monday, March 10th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.88.

About Kite Realty Group Trust

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.