Centersquare Investment Management LLC purchased a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,551,630 shares of the real estate investment trust's stock, valued at approximately $64,403,000. Centersquare Investment Management LLC owned 1.16% of Kite Realty Group Trust at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of KRG. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at $39,000. Versant Capital Management Inc raised its position in Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 2,080 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new position in Kite Realty Group Trust during the 4th quarter worth $101,000. Headlands Technologies LLC bought a new position in Kite Realty Group Trust in the 4th quarter valued at $116,000. Finally, GAMMA Investing LLC increased its stake in shares of Kite Realty Group Trust by 15.8% in the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust's stock valued at $121,000 after buying an additional 652 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Kite Realty Group Trust Trading Down 0.7 %
NYSE:KRG traded down $0.14 during trading hours on Wednesday, hitting $19.12. The stock had a trading volume of 1,608,716 shares, compared to its average volume of 2,023,460. The business's 50 day moving average is $22.34 and its 200-day moving average is $24.54. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 955.05, a P/E/G ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24. 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 issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate 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%. Sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.
Kite Realty Group Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.65%. Kite Realty Group Trust's payout ratio is 5,400.00%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on KRG shares. Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price target for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. dropped their price target on shares of 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. Piper Sandler reaffirmed 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. Finally, Raymond James dropped their target price 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. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of "Moderate Buy" and an average target price of $27.88.
View Our Latest Analysis on Kite Realty Group Trust
About Kite Realty Group Trust
(
Free Report)
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.
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