Ensign Peak Advisors Inc lifted its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 17.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 94,949 shares of the real estate investment trust's stock after buying an additional 14,146 shares during the quarter. Ensign Peak Advisors Inc's holdings in Kite Realty Group Trust were worth $2,397,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Kite Realty Group Trust in the 4th quarter valued at about $91,335,000. Centersquare Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $64,403,000. JPMorgan Chase & Co. lifted its stake in shares of Kite Realty Group Trust by 23.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after buying an additional 2,308,613 shares during the period. Aew Capital Management L P acquired a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $31,663,000. Finally, Invesco Ltd. boosted its position in Kite Realty Group Trust by 36.5% during the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock worth $75,038,000 after acquiring an additional 794,651 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.
Kite Realty Group Trust Trading Up 1.4%
KRG stock opened at $22.90 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 1,145.00, a PEG ratio of 3.57 and a beta of 1.10. The business has a fifty day simple moving average of $21.77 and a 200-day simple moving average of $23.73. Kite Realty Group Trust has a 52 week low of $18.52 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, equities research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.
Kite Realty Group Trust Dividend Announcement
The firm also recently disclosed 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. This represents a $1.08 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is currently 1,542.86%.
Analysts Set New Price Targets
KRG has been the subject of several analyst reports. Raymond James cut their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a report on Monday, March 10th. Piper Sandler reiterated a "neutral" rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price target 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. Five 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 company. Based on data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and a consensus target price of $27.88.
Read Our Latest Report on KRG
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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