Employees Retirement System of Texas boosted its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 110.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,000 shares of the real estate investment trust's stock after buying an additional 106,000 shares during the quarter. Employees Retirement System of Texas owned 0.09% of Kite Realty Group Trust worth $5,098,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new position in shares of Kite Realty Group Trust during the 4th quarter worth approximately $3,758,000. Mackenzie Financial Corp raised its position in Kite Realty Group Trust by 2,830.3% in the fourth quarter. Mackenzie Financial Corp now owns 506,122 shares of the real estate investment trust's stock valued at $12,775,000 after purchasing an additional 488,850 shares during the period. DigitalBridge Group Inc. acquired a new position in Kite Realty Group Trust during the fourth quarter worth $6,974,000. GF Fund Management CO. LTD. acquired a new position in Kite Realty Group Trust during the fourth quarter worth $101,000. Finally, Voloridge Investment Management LLC boosted its position in shares of Kite Realty Group Trust by 260.3% during the fourth quarter. Voloridge Investment Management LLC now owns 246,773 shares of the real estate investment trust's stock worth $6,229,000 after buying an additional 178,291 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Kite Realty Group Trust Stock Down 0.8%
KRG traded down $0.18 on Friday, hitting $22.12. 1,621,743 shares of the company were exchanged, compared to its average volume of 1,688,660. The firm has a 50-day moving average price of $21.77 and a two-hundred day moving average price of $23.42. 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 twelve month low of $18.52 and a twelve month high of $28.24. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 1,106.00, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 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 business had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. On average, equities analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.
Kite Realty Group Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.88%. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on KRG. Piper Sandler reiterated a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James dropped their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Friday, May 23rd. Finally, Wells Fargo & Company reduced their price target 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 report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.63.
Get Our Latest Report on Kite Realty Group Trust
Kite Realty Group Trust Company Profile
(
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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