Nuveen LLC Purchases New Shares in Kite Realty Group Trust (NYSE: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 stake in Kite Realty Group Trust (NYSE:KRG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,132,379 shares of the real estate investment trust's stock, valued at approximately $70,071,000. Nuveen LLC owned approximately 1.43% of Kite Realty Group Trust as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Optiver Holding B.V. grew its stake in shares of Kite Realty Group Trust by 19.9% in 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 acquiring an additional 467 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Kite Realty Group Trust by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust's stock valued at $1,376,000 after acquiring an additional 500 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Kite Realty Group Trust by 1.8% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock valued at $806,000 after acquiring an additional 556 shares in the last quarter. IHT Wealth Management LLC grew its stake in shares of Kite Realty Group Trust by 3.3% in the fourth quarter. IHT Wealth Management LLC now owns 18,489 shares of the real estate investment trust's stock valued at $467,000 after acquiring an additional 582 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Kite Realty Group Trust by 1.2% in the first quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust's stock valued at $1,177,000 after acquiring an additional 600 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on KRG. Raymond James Financial decreased 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 research report on Friday, May 23rd. Piper Sandler restated a "neutral" rating and issued a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Wall Street Zen cut Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, UBS Group began coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Kite Realty Group Trust currently has a consensus rating of "Hold" and a consensus target price of $27.11.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $21.70 on Thursday. The stock's 50-day simple moving average is $22.41 and its 200 day simple moving average is $22.25. The firm has a market capitalization of $4.77 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 6.44 and a beta of 1.16. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24.

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 earnings per share for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. On average, analysts anticipate that Kite Realty Group Trust will post 2.05 EPS 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. Stockholders of record on Thursday, October 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend 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%.

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.

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