DigitalBridge Group Inc. Makes New $6.97 Million Investment in Kite Realty Group Trust (NYSE:KRG)

DigitalBridge Group Inc. purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 276,300 shares of the real estate investment trust's stock, valued at approximately $6,974,000. DigitalBridge Group Inc. owned 0.13% of Kite Realty Group Trust at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KRG. EMC Capital Management increased its holdings in Kite Realty Group Trust by 4.9% in the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust's stock valued at $242,000 after buying an additional 447 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Kite Realty Group Trust by 2.6% during the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust's stock valued at $465,000 after acquiring an additional 466 shares in the last quarter. Optiver Holding B.V. lifted its stake in Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 467 shares during the last quarter. Arizona State Retirement System boosted its holdings in Kite Realty Group Trust by 0.8% in 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 purchasing an additional 516 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Kite Realty Group Trust by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock valued at $806,000 after purchasing an additional 556 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

KRG stock traded up $0.35 on Thursday, reaching $22.19. The company's stock had a trading volume of 522,906 shares, compared to its average volume of 1,683,075. Kite Realty Group Trust has a 52 week low of $18.52 and a 52 week high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $4.88 billion, a P/E ratio of 1,109.00, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. The firm has a fifty day moving average of $21.78 and a two-hundred day moving average of $23.46.

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

Kite Realty Group Trust Announces Dividend

The company 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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is currently 1,542.86%.

Analyst Ratings Changes

Several research firms have recently commented on KRG. Raymond James decreased their price target 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, May 23rd. Wells Fargo & Company dropped their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, Piper Sandler reissued a "neutral" rating and issued a $25.00 price target (down previously 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.63.

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.