LSV Asset Management Grows Holdings in Kite Realty Group Trust (NYSE:KRG)

Key Points

• LSV Asset Management increased its stake in Kite Realty Group Trust by 2.1%, holding 997,600 shares valued at approximately $22.32 million.
• Kite Realty Group Trust announced a quarterly dividend of $0.27 per share, representing an annual yield of 5.0%.
• Market analysts have a consensus rating of "Hold" for Kite Realty Group Trust, with an average price target of $27.22.

LSV Asset Management lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 997,600 shares of the real estate investment trust's stock after purchasing an additional 20,100 shares during the quarter. LSV Asset Management owned about 0.45% of Kite Realty Group Trust worth $22,316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Kite Realty Group Trust by 332.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock worth $33,776,000 after purchasing an additional 1,160,694 shares in the last quarter. Invesco Ltd. grew its stake 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 worth $75,038,000 after purchasing an additional 794,651 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Kite Realty Group Trust during the fourth quarter valued at $19,632,000. Deutsche Bank AG grew its stake in Kite Realty Group Trust by 232.4% in the fourth quarter. Deutsche Bank AG now owns 1,048,441 shares of the real estate investment trust's stock valued at $26,463,000 after purchasing an additional 733,015 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Kite Realty Group Trust by 17.1% in the 4th quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust's stock valued at $98,074,000 after purchasing an additional 567,284 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

NYSE KRG traded down $0.34 during trading hours on Thursday, hitting $21.50. The company's stock had a trading volume of 617,577 shares, compared to its average volume of 1,896,728. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The company has a market cap of $4.73 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 6.65 and a beta of 1.16. The company's 50 day simple moving average is $22.50 and its two-hundred day simple moving average is $22.33.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. The business had revenue of $211.18 million during the quarter, compared to analysts' expectations of $211.74 million. As a group, sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KRG shares. UBS Group started coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price for the company. Piper Sandler reissued a "neutral" rating and issued a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday. Wall Street Zen cut Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Raymond James Financial dropped their target price on 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. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.