DigitalBridge Group Inc. Takes $6.97 Million Position in Kite Realty Group Trust (NYSE:KRG)

DigitalBridge Group Inc. acquired 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 and Exchange Commission (SEC). The institutional investor acquired 276,300 shares of the real estate investment trust's stock, valued at approximately $6,974,000. DigitalBridge Group Inc. owned about 0.13% of Kite Realty Group Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. EMC Capital Management lifted its stake in shares of Kite Realty Group Trust by 4.9% in the 4th quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust's stock valued at $242,000 after purchasing an additional 447 shares during the last quarter. Fifth Third Bancorp raised its holdings in Kite Realty Group Trust by 2.6% in the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust's stock valued at $465,000 after buying an additional 466 shares during the period. Optiver Holding B.V. lifted its position in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 467 shares during the last quarter. Arizona State Retirement System boosted its stake in Kite Realty Group Trust by 0.8% during the fourth quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust's stock worth $1,609,000 after buying an additional 516 shares during the period. Finally, FIL Ltd increased its position in shares of Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 579 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KRG. JPMorgan Chase & Co. lowered their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Piper Sandler restated a "neutral" rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company cut their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, Raymond James dropped their target price on 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 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.88.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.16 on Wednesday. The company has a market cap of $4.87 billion, a P/E ratio of 1,107.75, a PEG ratio of 3.57 and a beta of 1.10. The firm has a fifty day moving average price of $21.77 and a 200 day moving average price of $23.87. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. Sell-side analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 annualized dividend and a yield of 4.87%. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.

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.

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