Phocas Financial Corp. Acquires 139,474 Shares of Kite Realty Group Trust (NYSE:KRG)

Phocas Financial Corp. lifted its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 95.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 285,454 shares of the real estate investment trust's stock after purchasing an additional 139,474 shares during the period. Phocas Financial Corp. owned about 0.13% of Kite Realty Group Trust worth $7,205,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. 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 purchasing an additional 467 shares during the last quarter. FIL Ltd increased its stake in shares of Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after buying an additional 579 shares during the period. GF Fund Management CO. LTD. bought a new stake in Kite Realty Group Trust during the 4th quarter valued at $101,000. Spectrum Wealth Counsel LLC purchased a new stake in Kite Realty Group Trust during the 4th quarter valued at $101,000. Finally, Headlands Technologies LLC purchased a new stake in Kite Realty Group Trust during the 4th quarter valued at $116,000. Institutional investors own 90.81% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on KRG shares. Piper Sandler reiterated a "neutral" rating and issued a $25.00 price objective (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 target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, Raymond James lowered their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Friday, May 23rd. Five 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.63.

Kite Realty Group Trust Stock Down 0.8%

Shares of NYSE:KRG traded down $0.18 during trading on Friday, reaching $22.12. 1,621,743 shares of the stock traded hands, compared to its average volume of 2,042,594. The stock has a market cap of $4.86 billion, a P/E ratio of 1,106.00, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a 50-day moving average of $21.77 and a two-hundred day moving average of $23.42. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $221.76 million for the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. As a group, sell-side analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.88%. Kite Realty Group Trust's dividend payout ratio is presently 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.