Hsbc Holdings PLC boosted its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 41.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,648 shares of the real estate investment trust's stock after acquiring an additional 119,841 shares during the quarter. Hsbc Holdings PLC owned 0.19% of Kite Realty Group Trust worth $10,321,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KRG. Norges Bank acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at about $91,335,000. Centersquare Investment Management LLC bought a new stake in Kite Realty Group Trust in the 4th quarter valued at approximately $64,403,000. JPMorgan Chase & Co. lifted its stake in Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after acquiring an additional 2,308,613 shares in the last quarter. Aew Capital Management L P acquired a new position in Kite Realty Group Trust during the 4th quarter worth approximately $31,663,000. Finally, Invesco Ltd. grew its stake in shares of Kite Realty Group Trust by 36.5% during the 4th 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 in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on KRG. Piper Sandler reissued a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. Raymond James reduced their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research note on Monday, March 10th. Finally, Wells Fargo & Company lowered 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 research report on Wednesday, March 26th. Five research 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. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of "Moderate Buy" and an average target price of $27.88.
View Our Latest Report on KRG
Kite Realty Group Trust Stock Performance
Shares of KRG stock traded up $0.41 on Friday, reaching $22.48. The stock had a trading volume of 2,431,817 shares, compared to its average volume of 1,662,247. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 1,124.00, a P/E/G ratio of 3.57 and a beta of 1.05. The firm's 50-day moving average is $21.77 and its two-hundred day moving average is $23.93. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data 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 0.12% and a net margin of 0.48%. The company had revenue of $221.76 million during the quarter, compared to analysts' expectations of $211.07 million. On average, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.
Kite Realty Group Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.80%. Kite Realty Group Trust's dividend payout ratio is currently 5,400.00%.
Kite Realty Group Trust Company Profile
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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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