Arrowstreet Capital Limited Partnership Has $313,000 Stake in Kite Realty Group Trust (NYSE:KRG)

Arrowstreet Capital Limited Partnership trimmed its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 98.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,382 shares of the real estate investment trust's stock after selling 1,053,599 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Kite Realty Group Trust were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Kite Realty Group Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock worth $845,708,000 after acquiring an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. grew its position in Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after purchasing an additional 2,308,613 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kite Realty Group Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust's stock worth $150,865,000 after purchasing an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Kite Realty Group Trust by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust's stock valued at $94,039,000 after buying an additional 73,926 shares during the period. Finally, Norges Bank bought a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at about $91,335,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Price Performance

KRG stock traded up $0.32 during midday trading on Friday, reaching $21.36. 2,202,802 shares of the company's stock traded hands, compared to its average volume of 1,641,532. 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 company has a market cap of $4.69 billion, a price-to-earnings ratio of 1,067.80, a PEG ratio of 3.57 and a beta of 1.05. The company has a 50-day simple moving average of $21.90 and a two-hundred day simple moving average of $24.22. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. On average, 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 was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.06%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio is 5,400.00%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KRG shares. JPMorgan Chase & Co. lowered their price objective 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. Piper Sandler restated 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 note on Thursday, February 13th. Wells Fargo & Company decreased 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 report on Wednesday, March 26th. Raymond James dropped 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 research report on Monday, March 10th. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price objective for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Five 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's stock. According to data from MarketBeat, the stock currently has an average 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.