Bank of America Corp DE Boosts Stake in Kite Realty Group Trust (NYSE:KRG)

Bank of America Corp DE increased its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,785,395 shares of the real estate investment trust's stock after acquiring an additional 311,258 shares during the quarter. Bank of America Corp DE owned approximately 1.72% of Kite Realty Group Trust worth $95,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of KRG. Wilmington Savings Fund Society FSB purchased a new position in shares of Kite Realty Group Trust in the 3rd quarter valued at approximately $39,000. Optiver Holding B.V. lifted its stake in shares of Kite Realty Group Trust by 19.9% in 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 purchasing an additional 467 shares during the period. FIL Ltd lifted its stake in shares of 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 valued at $88,000 after purchasing an additional 579 shares during the period. Spectrum Wealth Counsel LLC purchased a new position in Kite Realty Group Trust during the fourth quarter valued at $101,000. Finally, Headlands Technologies LLC purchased a new position in Kite Realty Group Trust during the fourth quarter valued at $116,000. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock traded down $0.37 during trading hours on Wednesday, hitting $22.54. The company's stock had a trading volume of 1,498,292 shares, compared to its average volume of 1,689,713. The business has a 50 day moving average price of $21.76 and a two-hundred day moving average price of $23.76. Kite Realty Group Trust has a 12-month low of $18.52 and a 12-month high of $28.24. The company has a market cap of $4.95 billion, a PE ratio of 1,127.00, a PEG ratio of 3.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98.

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

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.79%. Kite Realty Group Trust's payout ratio is 1,542.86%.

Analyst Upgrades and Downgrades

KRG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Raymond James decreased 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 note on Monday, March 10th. Wells Fargo & Company decreased their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, Piper Sandler restated a "neutral" rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Five investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.88.

Kite Realty Group Trust Company 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.