Kite Realty Group Trust (NYSE:KRG) Shares Purchased by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management LLC has significantly increased its stake in Kite Realty Group Trust by 133.6%, now owning about 5.96 million shares valued at approximately $133.3 million.
• The company recently announced a quarterly dividend of $0.27 per share, with a yield of 4.9%, reflecting a high dividend payout ratio of 136.71%.
• Current analysts' ratings on Kite Realty Group Trust show a consensus of "Hold" with a target price range between $24.00 to $27.11, based on updated evaluations from multiple brokerages.

Centersquare Investment Management LLC grew its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 133.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,960,072 shares of the real estate investment trust's stock after purchasing an additional 3,408,442 shares during the quarter. Kite Realty Group Trust makes up 1.4% of Centersquare Investment Management LLC's portfolio, making the stock its 24th biggest position. Centersquare Investment Management LLC owned 2.71% of Kite Realty Group Trust worth $133,327,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. LPL Financial LLC grew its position in shares of Kite Realty Group Trust by 29.5% in the 4th quarter. LPL Financial LLC now owns 134,625 shares of the real estate investment trust's stock worth $3,398,000 after buying an additional 30,692 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of Kite Realty Group Trust in the 4th quarter worth approximately $2,200,000. Wells Fargo & Company MN grew its position in shares of Kite Realty Group Trust by 18.2% in the 4th quarter. Wells Fargo & Company MN now owns 166,842 shares of the real estate investment trust's stock worth $4,211,000 after buying an additional 25,671 shares during the last quarter. 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. Finally, 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. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

Shares of KRG stock traded down $0.53 during trading hours on Friday, hitting $20.93. The company's stock had a trading volume of 1,554,444 shares, compared to its average volume of 1,586,975. The company has a 50 day moving average of $22.46 and a 200 day moving average of $22.30. The stock has a market cap of $4.60 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 6.50 and a beta of 1.16. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $211.18 million for the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's payout ratio is currently 136.71%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Raymond James Financial dropped their target price 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 report on Friday, May 23rd. UBS Group assumed coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price on the stock. Finally, Piper Sandler reissued a "neutral" rating and set a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of "Hold" and a consensus target price of $27.11.

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.