Lazard Asset Management LLC increased its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 44.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,712 shares of the real estate investment trust's stock after purchasing an additional 12,001 shares during the quarter. Lazard Asset Management LLC's holdings in Kite Realty Group Trust were worth $977,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of KRG. Norges Bank acquired a new position in Kite Realty Group Trust in the fourth quarter valued at approximately $91,335,000. Centersquare Investment Management LLC acquired a new position in Kite Realty Group Trust in the fourth quarter valued at approximately $64,403,000. JPMorgan Chase & Co. lifted its holdings in Kite Realty Group Trust by 23.3% in the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after acquiring an additional 2,308,613 shares during the period. Aew Capital Management L P acquired a new position in Kite Realty Group Trust in the fourth quarter valued at approximately $31,663,000. Finally, Invesco Ltd. lifted its holdings in Kite Realty Group Trust by 36.5% in the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock valued at $75,038,000 after acquiring an additional 794,651 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.
Kite Realty Group Trust Stock Down 0.6%
Kite Realty Group Trust stock opened at $23.02 on Tuesday. The stock has a market capitalization of $5.06 billion, a PE ratio of 1,151.00, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The business has a 50 day simple moving average of $21.82 and a 200-day simple moving average of $23.66. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $221.76 million during the quarter, compared to analysts' expectations of $211.07 million. On average, analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is 1,542.86%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on KRG shares. Piper Sandler reissued a "neutral" rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James decreased their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a report on Monday, March 10th. Finally, Wells Fargo & Company decreased their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.88.
Read Our Latest Report on KRG
About Kite Realty Group Trust
(
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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