Nuveen LLC Takes Position in Kite Realty Group Trust $KRG

Key Points

• Nuveen LLC has acquired a new stake in Kite Realty Group Trust, purchasing 3,132,379 shares valued at approximately $70.07 million, representing about 1.43% of the company's total shares.
• Analysts have recently adjusted their price targets for Kite Realty Group Trust, with Raymond James reducing its target from $28.00 to $26.00 while maintaining a "strong-buy" rating, amidst a general consensus rating of "Hold."
• The company has declared a quarterly dividend of $0.27 per share, translating to an annualized dividend yield of 5.0%, with the ex-dividend date set for October 9th.

Nuveen LLC purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,132,379 shares of the real estate investment trust's stock, valued at approximately $70,071,000. Nuveen LLC owned 1.43% of Kite Realty Group Trust at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KRG. Centersquare Investment Management LLC increased its position in Kite Realty Group Trust by 133.6% during the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock worth $133,327,000 after buying an additional 3,408,442 shares during the last quarter. Millennium Management LLC increased its position in Kite Realty Group Trust by 17.1% during the fourth 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 period. Bank of America Corp DE raised its position in shares of Kite Realty Group Trust by 9.0% in the fourth quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust's stock valued at $95,543,000 after buying an additional 311,258 shares in the last quarter. Northern Trust Corp raised its position in Kite Realty Group Trust by 17.5% during the fourth quarter. Northern Trust Corp now owns 3,623,860 shares of the real estate investment trust's stock valued at $91,466,000 after purchasing an additional 539,322 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Kite Realty Group Trust by 0.5% during the 4th quarter. Nuveen Asset Management LLC now owns 3,240,179 shares of the real estate investment trust's stock worth $81,782,000 after buying an additional 15,061 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

Shares of KRG traded down $0.05 during trading hours on Monday, hitting $21.47. The company's stock had a trading volume of 286,290 shares, compared to its average volume of 1,886,988. The business has a 50 day simple moving average of $22.38 and a two-hundred day simple moving average of $22.20. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 6.52 and a beta of 1.16.

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 company had revenue of $211.18 million during the quarter, compared to the consensus estimate of $211.74 million. On average, equities analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 136.71%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group began coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price target on the stock. Wall Street Zen lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Piper Sandler reiterated a "neutral" rating and issued a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Finally, Raymond James Financial decreased their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of "Hold" and a consensus price target of $27.11.

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.