Sumitomo Mitsui Trust Group Inc. Grows Position in Kite Realty Group Trust (NYSE:KRG)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 332.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,509,886 shares of the real estate investment trust's stock after buying an additional 1,160,694 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.69% of Kite Realty Group Trust worth $33,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KRG. Optiver Holding B.V. grew its position in 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 worth $71,000 after acquiring an additional 467 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Kite Realty Group Trust by 0.8% in the 4th quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust's stock worth $1,609,000 after purchasing an additional 516 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Kite Realty Group Trust by 1.8% during the 4th 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 purchasing an additional 556 shares during the last quarter. FIL Ltd raised its holdings in shares of 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 valued at $88,000 after buying an additional 579 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its position in Kite Realty Group Trust by 3.3% in the 4th quarter. IHT Wealth Management LLC now owns 18,489 shares of the real estate investment trust's stock worth $467,000 after buying an additional 582 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Trading Up 1.0%

Shares of NYSE:KRG traded up $0.22 during midday trading on Thursday, hitting $23.07. 1,209,939 shares of the stock traded hands, compared to its average volume of 1,704,749. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.89. The business's 50 day moving average is $22.38 and its two-hundred day moving average is $22.65. The stock has a market capitalization of $5.07 billion, a PE ratio of 329.57, a P/E/G ratio of 5.78 and a beta of 1.09. Kite Realty Group Trust has a one year low of $18.52 and a one year high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. The company had revenue of $221.76 million for the quarter, compared to the consensus estimate of $211.07 million. As a group, research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be given a $0.27 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.68%. Kite Realty Group Trust's dividend payout ratio is 1,542.86%.

Analyst Ratings Changes

KRG has been the topic of a number of recent research reports. Wall Street Zen cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group began coverage on shares of Kite Realty Group Trust in a research report on Tuesday. They issued a "neutral" rating and a $24.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, Raymond James Financial reduced 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 research note on Friday, May 23rd. Seven 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.22.

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.