Legal & General Group Plc Sells 28,856 Shares of Kite Realty Group Trust (NYSE:KRG)

Legal & General Group Plc lessened its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,417,447 shares of the real estate investment trust's stock after selling 28,856 shares during the quarter. Legal & General Group Plc owned approximately 0.65% of Kite Realty Group Trust worth $35,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Kite Realty Group Trust by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock valued at $845,708,000 after acquiring an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Kite Realty Group Trust by 23.3% in 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. Geode Capital Management LLC boosted its holdings in Kite Realty Group Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust's stock worth $150,865,000 after buying an additional 43,015 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 worth $94,039,000 after buying an additional 73,926 shares during the period. Finally, Norges Bank bought a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at about $91,335,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Up 1.5 %

KRG stock traded up $0.32 during midday trading on Friday, hitting $21.36. The company's stock had a trading volume of 2,202,802 shares, compared to its average volume of 1,645,087. The company's fifty day moving average price is $21.94 and its 200 day moving average price is $24.25. Kite Realty Group Trust has a twelve month low of $18.52 and a twelve month high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $4.69 billion, a P/E ratio of 1,067.80, a PEG ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued 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%. As a group, equities research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio is currently 5,400.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KRG shares. JPMorgan Chase & Co. decreased their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Piper Sandler reiterated a "neutral" rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and dropped their price target for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Wells Fargo & Company lowered 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. Finally, Raymond James reduced their price target on shares of 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. 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.88.

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.