Nomura Holdings Inc. purchased a new stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 29,093 shares of the real estate investment trust's stock, valued at approximately $734,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EMC Capital Management lifted its position in Kite Realty Group Trust by 4.9% during the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust's stock valued at $242,000 after purchasing an additional 447 shares during the period. Fifth Third Bancorp lifted its position in Kite Realty Group Trust by 2.6% during 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 during the period. Optiver Holding B.V. lifted 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 valued at $71,000 after purchasing an additional 467 shares during the period. Arizona State Retirement System lifted its position in Kite Realty Group Trust by 0.8% during the fourth quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust's stock valued at $1,609,000 after purchasing an additional 516 shares during the period. Finally, FIL Ltd lifted its position in Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 579 shares during the period. Institutional investors own 90.81% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on KRG. Raymond James lowered their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company decreased their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Five 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 stock has an average rating of "Moderate Buy" and an average price target of $27.88.
Read Our Latest Report on KRG
Kite Realty Group Trust Stock Down 2.3%
Shares of KRG stock opened at $22.47 on Wednesday. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 1,123.50, a PEG ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a one year low of $18.52 and a one year high of $28.24. The company's fifty day moving average price is $21.82 and its 200-day moving average price is $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 announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $221.76 million for the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.
Kite Realty Group Trust Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 annualized dividend and a yield of 4.81%. Kite Realty Group Trust's payout ratio is 1,542.86%.
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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