MetLife Investment Management LLC Raises Stock Position in Kite Realty Group Trust (NYSE:KRG)

MetLife Investment Management LLC increased its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 7.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,103 shares of the real estate investment trust's stock after acquiring an additional 17,176 shares during the period. MetLife Investment Management LLC owned about 0.12% of Kite Realty Group Trust worth $6,489,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth approximately $39,000. Versant Capital Management Inc grew its stake in shares of Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock worth $62,000 after buying an additional 2,080 shares during the last quarter. FIL Ltd grew its position in 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 worth $88,000 after acquiring an additional 579 shares during the last quarter. Spectrum Wealth Counsel LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter valued at $101,000. Finally, Headlands Technologies LLC acquired a new position in Kite Realty Group Trust during the 4th quarter worth about $116,000. Institutional investors own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KRG shares. Raymond James cut their target price on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research report on Monday, March 10th. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price 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. Jefferies Financial Group cut Kite Realty Group Trust from a "buy" rating to a "hold" rating and cut their price objective for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Five investment 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's stock. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and a consensus price target of $27.88.

Kite Realty Group Trust Price Performance

NYSE:KRG traded down $0.04 on Monday, reaching $21.80. 315,453 shares of the company's stock traded hands, compared to its average volume of 1,640,083. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The stock has a 50-day simple moving average of $21.79 and a 200-day simple moving average of $24.05. 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 firm has a market cap of $4.79 billion, a PE ratio of 1,090.50, a P/E/G ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts' consensus estimates 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%. Equities 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 company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.

About Kite Realty Group Trust

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.