Man Group plc Increases Holdings in Kite Realty Group Trust (NYSE:KRG)

Man Group plc raised its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 446.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 45,520 shares of the real estate investment trust's stock after acquiring an additional 37,189 shares during the period. Man Group plc's holdings in Kite Realty Group Trust were worth $1,149,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in KRG. Barclays PLC grew its stake in Kite Realty Group Trust by 29.0% in the third quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust's stock valued at $25,139,000 after acquiring an additional 212,983 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Kite Realty Group Trust by 2.6% in the fourth quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust's stock valued at $465,000 after purchasing an additional 466 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Kite Realty Group Trust by 34.6% in the fourth quarter. Blue Trust Inc. now owns 8,927 shares of the real estate investment trust's stock valued at $237,000 after purchasing an additional 2,294 shares in the last quarter. KBC Group NV lifted its holdings in shares of Kite Realty Group Trust by 38.4% in the fourth quarter. KBC Group NV now owns 8,210 shares of the real estate investment trust's stock valued at $207,000 after purchasing an additional 2,277 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Kite Realty Group Trust by 3.5% in the fourth quarter. Pacer Advisors Inc. now owns 43,695 shares of the real estate investment trust's stock valued at $1,103,000 after purchasing an additional 1,461 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock traded up $0.44 during mid-day trading on Thursday, reaching $22.28. 245,722 shares of the company's stock were exchanged, compared to its average volume of 2,044,516. The business's fifty day simple moving average is $21.78 and its 200 day simple moving average is $23.46. The firm has a market capitalization of $4.90 billion, a PE ratio of 1,113.35, a P/E/G ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $211.07 million. On average, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.85%. Kite Realty Group Trust's dividend payout ratio is presently 1,542.86%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KRG. Piper Sandler restated a "neutral" rating and issued a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on 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 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 report on Friday, May 23rd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $27.63.

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.