BNP Paribas Financial Markets Purchases 24,201 Shares of Kite Realty Group Trust (NYSE:KRG)

BNP Paribas Financial Markets lifted its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 45.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,983 shares of the real estate investment trust's stock after purchasing an additional 24,201 shares during the period. BNP Paribas Financial Markets' holdings in Kite Realty Group Trust were worth $1,968,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KRG. Norges Bank purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $91,335,000. Centersquare Investment Management LLC purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $64,403,000. JPMorgan Chase & Co. lifted its holdings in Kite Realty Group Trust by 23.3% in the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after buying an additional 2,308,613 shares during the period. Aew Capital Management L P purchased a new stake in Kite Realty Group Trust in the fourth quarter worth about $31,663,000. Finally, Invesco Ltd. lifted its holdings in Kite Realty Group Trust by 36.5% in the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock worth $75,038,000 after buying an additional 794,651 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James lowered their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Friday. Wells Fargo & Company lowered their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Finally, Piper Sandler restated a "neutral" rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.63.

Kite Realty Group Trust Stock Down 0.8%

Shares of KRG stock traded down $0.17 during trading hours on Friday, hitting $21.41. 1,893,828 shares of the company's stock traded hands, compared to its average volume of 1,689,254. The stock's fifty day simple moving average is $21.83 and its two-hundred day simple moving average is $23.61. Kite Realty Group Trust has a 12-month low of $18.52 and a 12-month high of $28.24. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 1,070.35, a PEG ratio of 3.57 and a beta of 1.10. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. On average, analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 annualized dividend and a dividend yield of 5.05%. Kite Realty Group Trust's payout ratio is 1,542.86%.

About Kite Realty Group Trust

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.