LPL Financial LLC increased its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 29.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,625 shares of the real estate investment trust's stock after purchasing an additional 30,692 shares during the quarter. LPL Financial LLC owned 0.06% of Kite Realty Group Trust worth $3,398,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of KRG. Proficio Capital Partners LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $1,180,000. Charles Schwab Investment Management Inc. boosted its position in 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 worth $94,039,000 after acquiring an additional 73,926 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at $19,632,000. New York State Common Retirement Fund grew its holdings in shares of Kite Realty Group Trust by 18.6% during the 4th quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust's stock valued at $2,741,000 after acquiring an additional 17,015 shares in the last quarter. Finally, Aew Capital Management L P purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth $31,663,000. Institutional investors and hedge funds own 90.81% of the company's stock.
Analyst Ratings Changes
KRG has been the topic of several research reports. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and reduced their price objective for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Wells Fargo & Company cut their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Raymond James lowered their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kite Realty Group Trust has a consensus rating of "Moderate Buy" and a consensus price target of $27.88.
Check Out Our Latest Stock Analysis on KRG
Kite Realty Group Trust Price Performance
Shares of KRG stock traded up $0.35 during mid-day trading on Thursday, reaching $21.39. The company's stock had a trading volume of 216,880 shares, compared to its average volume of 1,638,743. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The firm's 50-day moving average is $21.98 and its two-hundred day moving average is $24.29. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The company has a market cap of $4.70 billion, a P/E ratio of 1,069.00, a PEG ratio of 3.57 and a beta of 1.05.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.
Kite Realty Group Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.
Kite Realty Group Trust Profile
(
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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