Sumitomo Mitsui Trust Group Inc. Increases Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 332.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,509,886 shares of the real estate investment trust's stock after purchasing an additional 1,160,694 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.69% of Kite Realty Group Trust worth $33,776,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in KRG. Opal Wealth Advisors LLC acquired a new position in shares of Kite Realty Group Trust during the first quarter valued at about $25,000. Optiver Holding B.V. lifted its position in Kite Realty Group Trust by 19.9% during 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 purchasing an additional 467 shares during the period. CX Institutional purchased a new stake in Kite Realty Group Trust in the first quarter valued at $79,000. FIL Ltd grew its position in Kite Realty Group Trust by 19.8% during the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 579 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in Kite Realty Group Trust during the fourth quarter valued at approximately $101,000. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KRG. Wall Street Zen lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group started coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price for the company. Raymond James Financial decreased their price objective 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, May 23rd. Finally, Wells Fargo & Company cut 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 note on Wednesday, March 26th. Seven investment 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 stock. According to MarketBeat.com, Kite Realty Group Trust currently has an average rating of "Hold" and a consensus price target of $27.22.

Kite Realty Group Trust Stock Up 1.0%

Shares of NYSE:KRG traded up $0.22 during trading on Friday, hitting $23.07. The company's stock had a trading volume of 1,209,939 shares, compared to its average volume of 1,712,158. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24. The business has a 50 day moving average price of $22.41 and a two-hundred day moving average price of $22.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $5.07 billion, a PE ratio of 329.57, a P/E/G ratio of 5.88 and a beta of 1.09.

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, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $221.76 million for the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. As a group, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 1,542.86%.

Kite Realty Group Trust Company 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.