Crestline Management LP purchased a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 142,915 shares of the real estate investment trust's stock, valued at approximately $3,607,000. Crestline Management LP owned 0.07% of Kite Realty Group Trust as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Kite Realty Group Trust during the 4th quarter worth $91,335,000. Centersquare Investment Management LLC purchased a new stake in shares of Kite Realty Group Trust during the 4th quarter worth $64,403,000. JPMorgan Chase & Co. boosted its position in shares of Kite Realty Group Trust by 23.3% during 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 in the last quarter. Aew Capital Management L P purchased a new stake in shares of Kite Realty Group Trust during the 4th quarter worth $31,663,000. Finally, Invesco Ltd. boosted its position in shares of Kite Realty Group Trust by 36.5% during the 4th quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock worth $75,038,000 after purchasing an additional 794,651 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.
Kite Realty Group Trust Trading Up 3.4%
Shares of NYSE KRG traded up $0.75 on Monday, reaching $23.18. 561,956 shares of the company traded hands, compared to its average volume of 1,675,860. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24. The company has a 50 day moving average of $21.73 and a 200 day moving average of $23.78. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.10 billion, a PE ratio of 1,159.50, a P/E/G ratio of 3.57 and a beta of 1.10.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. On average, equities research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.
Kite Realty Group Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is currently 1,542.86%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on KRG shares. Piper Sandler restated a "neutral" rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of 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. Wells Fargo & Company cut 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, Raymond James cut 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. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kite Realty Group Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.88.
Get Our Latest Report on KRG
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.
Featured Stories
Before you consider Kite Realty Group Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kite Realty Group Trust wasn't on the list.
While Kite Realty Group Trust currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
