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 boosted its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 2.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 997,600 shares of the real estate investment trust's stock after acquiring an additional 20,100 shares during the period. 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 large investors also recently added to or reduced their stakes in the stock. Optiver Holding B.V. raised its position in Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 467 shares during the period. Louisiana State Employees Retirement System raised its position in Kite Realty Group Trust by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust's stock worth $1,376,000 after acquiring an additional 500 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Kite Realty Group Trust by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock worth $806,000 after buying an additional 556 shares in the last quarter. FIL Ltd lifted 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 in the last quarter. Finally, IHT Wealth Management LLC lifted its stake in shares of Kite Realty Group Trust by 3.3% in the fourth quarter. IHT Wealth Management LLC now owns 18,489 shares of the real estate investment trust's stock worth $467,000 after buying an additional 582 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Price Performance

KRG stock traded up $0.11 during midday trading on Tuesday, hitting $21.92. 2,521,522 shares of the stock were exchanged, compared to its average volume of 1,534,449. The stock's 50-day moving average price is $22.50 and its 200-day moving average price is $22.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 6.61 and a beta of 1.16. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week 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, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The business had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 136.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James Financial cut their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Friday, May 23rd. Wall Street Zen lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. UBS Group started coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price objective on the stock. Finally, Piper Sandler reduced their price objective on shares of Kite Realty Group Trust from $25.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday. Seven 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.11.

About Kite Realty Group Trust

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.