Fox Run Management L.L.C. Has $1.68 Million Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Key Points

• Fox Run Management L.L.C. increased its stake in Kite Realty Group Trust by 79.6%, acquiring an additional 33,368 shares for a total holding of 75,284 shares valued at approximately $1.68 million.
• Recent analyst activity includes Raymond James Financial reducing its price target for Kite Realty shares from $28 to $26, while UBS Group initiated coverage with a neutral rating and a price target of $24.
• Kite Realty Group Trust announced a quarterly dividend of $0.27 per share, representing a 5.0% annual yield, with the ex-dividend date set for October 9th.

Fox Run Management L.L.C. increased its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 79.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,284 shares of the real estate investment trust's stock after acquiring an additional 33,368 shares during the quarter. Fox Run Management L.L.C.'s holdings in Kite Realty Group Trust were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Kite Realty Group Trust by 18.2% during the fourth quarter. Wells Fargo & Company MN now owns 166,842 shares of the real estate investment trust's stock valued at $4,211,000 after purchasing an additional 25,671 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Kite Realty Group Trust by 11.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 244,272 shares of the real estate investment trust's stock worth $6,165,000 after buying an additional 25,805 shares during the last quarter. Bank of Montreal Can grew its position in shares of Kite Realty Group Trust by 4.3% in the 4th quarter. Bank of Montreal Can now owns 62,065 shares of the real estate investment trust's stock worth $1,567,000 after buying an additional 2,571 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kite Realty Group Trust in the 4th quarter worth approximately $19,632,000. Finally, Barclays PLC increased its holdings in shares of Kite Realty Group Trust by 25.0% during the fourth quarter. Barclays PLC now owns 1,183,004 shares of the real estate investment trust's stock valued at $29,859,000 after acquiring an additional 236,503 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Up 0.3%

Shares of KRG traded up $0.07 during mid-day trading on Friday, reaching $21.51. 1,040,012 shares of the stock traded hands, compared to its average volume of 1,705,944. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 6.52 and a beta of 1.16. The stock has a fifty day simple moving average of $22.38 and a 200 day simple moving average of $22.21. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $211.18 million during the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's payout ratio is currently 136.71%.

Wall Street Analysts Forecast Growth

KRG has been the topic of a number of analyst reports. Raymond James Financial dropped their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Piper Sandler reaffirmed a "neutral" rating and issued a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Finally, UBS Group began coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price objective for the company. Seven research 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 data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of "Hold" and an average target price of $27.11.

Kite Realty Group Trust Company 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.