Lazard Asset Management LLC boosted its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 44.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,712 shares of the real estate investment trust's stock after acquiring an additional 12,001 shares during the period. Lazard Asset Management LLC's holdings in Kite Realty Group Trust were worth $977,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KRG. Norges Bank acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $91,335,000. Centersquare Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $64,403,000. JPMorgan Chase & Co. boosted its holdings in shares of Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after purchasing an additional 2,308,613 shares during the last quarter. Aew Capital Management L P acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $31,663,000. Finally, Invesco Ltd. boosted its holdings in shares of Kite Realty Group Trust by 36.5% in the 4th quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock valued at $75,038,000 after purchasing an additional 794,651 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.
Kite Realty Group Trust Stock Down 0.8%
KRG stock traded down $0.17 during trading on Friday, reaching $21.41. The stock had a trading volume of 1,893,828 shares, compared to its average volume of 1,690,356. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $4.71 billion, a P/E ratio of 1,070.35, a PEG ratio of 3.57 and a beta of 1.10. The firm has a fifty day moving average price of $21.82 and a 200 day moving average price of $23.52.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued 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 net margin of 0.48% and a return on equity of 0.12%. The firm had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. On average, equities analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.
Kite Realty Group Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.05%. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Piper Sandler reiterated 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. Wells Fargo & Company reduced their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, Raymond James reduced 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 report on Friday. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $27.63.
Check Out Our Latest Stock Report on Kite Realty Group Trust
Kite Realty Group Trust 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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