Nuveen Asset Management LLC Increases Position in Kite Realty Group Trust (NYSE:KRG)

Nuveen Asset Management LLC increased its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,240,179 shares of the real estate investment trust's stock after purchasing an additional 15,061 shares during the period. Nuveen Asset Management LLC owned approximately 1.48% of Kite Realty Group Trust worth $81,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in KRG. Norges Bank purchased a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at $91,335,000. Centersquare Investment Management LLC acquired a new stake in Kite Realty Group Trust during the 4th quarter valued at approximately $64,403,000. JPMorgan Chase & Co. increased its holdings in shares of Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after purchasing an additional 2,308,613 shares in the last quarter. Aew Capital Management L P purchased a new stake in Kite Realty Group Trust in the 4th quarter worth $31,663,000. Finally, Invesco Ltd. boosted its stake in Kite Realty Group Trust by 36.5% during 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. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Piper Sandler reiterated a "neutral" rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Wells Fargo & Company lowered 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 decreased their target price 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. Five 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.88.

Kite Realty Group Trust Stock Performance

Shares of KRG stock traded down $0.67 during midday trading on Wednesday, hitting $21.79. 1,422,833 shares of the company were exchanged, compared to its average volume of 1,683,293. The firm has a market capitalization of $4.79 billion, a P/E ratio of 1,089.40, a PEG ratio of 3.57 and a beta of 1.10. The firm's 50 day moving average price is $21.84 and its two-hundred day moving average price is $23.64. 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 52 week low of $18.52 and a 52 week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share 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 company had revenue of $221.76 million during the quarter, compared to analysts' expectations of $211.07 million. As a group, equities research analysts anticipate 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. Investors 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 4.96%. Kite Realty Group Trust's dividend payout ratio is presently 1,542.86%.

Kite Realty Group Trust 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.