SG Americas Securities LLC bought a new stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 35,524 shares of the real estate investment trust's stock, valued at approximately $795,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of Kite Realty Group Trust during the 4th quarter valued at approximately $1,180,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Kite Realty Group Trust by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust's stock valued at $94,039,000 after buying an additional 73,926 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kite Realty Group Trust during the 4th quarter valued at approximately $19,632,000. GAMMA Investing LLC boosted its stake in shares of Kite Realty Group Trust by 1,523.9% during the 1st quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust's stock valued at $1,739,000 after buying an additional 72,949 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Kite Realty Group Trust by 27.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,489 shares of the real estate investment trust's stock valued at $1,331,000 after buying an additional 12,696 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
KRG has been the subject of several research analyst reports. Raymond James Financial reduced their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company reduced their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, Wall Street Zen upgraded Kite Realty Group Trust from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.63.
Check Out Our Latest Analysis on Kite Realty Group Trust
Kite Realty Group Trust Stock Performance
KRG traded up $0.09 during trading hours on Friday, hitting $22.70. 2,161,087 shares of the stock were exchanged, compared to its average volume of 1,697,922. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 324.21, a price-to-earnings-growth ratio of 5.76 and a beta of 1.11. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The stock has a 50-day simple moving average of $22.07 and a 200-day simple moving average of $22.91.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The business had revenue of $221.76 million for the quarter, compared to analysts' expectations of $211.07 million. Kite Realty Group Trust had a net margin of 1.59% and a return on equity of 0.41%. 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 annualized dividend and a yield of 4.76%. Kite Realty Group Trust's dividend payout ratio is presently 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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