Nuveen Asset Management LLC increased its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,240,179 shares of the real estate investment trust's stock after acquiring an additional 15,061 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.48% of Kite Realty Group Trust worth $81,782,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Kite Realty Group Trust by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock worth $845,708,000 after acquiring an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after acquiring an additional 2,308,613 shares during the last quarter. Millennium Management LLC grew its holdings 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 worth $98,074,000 after acquiring an additional 567,284 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Kite Realty Group Trust by 9.0% in the 4th quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust's stock worth $95,543,000 after acquiring an additional 311,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Kite Realty Group Trust by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust's stock worth $94,039,000 after acquiring an additional 73,926 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Kite Realty Group Trust Stock Down 0.8%
Shares of KRG stock traded down $0.17 on Friday, reaching $21.41. 1,893,828 shares of the company's stock traded hands, compared to its average volume of 1,689,254. The business's 50 day moving average price is $21.83 and its two-hundred day moving average price is $23.61. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. Kite Realty Group Trust has a 12-month low of $18.52 and a 12-month high of $28.24. The company has a market capitalization of $4.71 billion, a P/E ratio of 1,070.35, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10.
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 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $211.07 million. On average, equities analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.
Kite Realty Group Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.05%. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 1,542.86%.
Wall Street Analyst Weigh In
Several analysts have recently commented on KRG shares. Wells Fargo & Company decreased their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Piper Sandler reiterated a "neutral" rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Raymond James lowered their price target 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. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and an average target price of $27.63.
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Kite Realty Group Trust Company Profile
(
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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