LSV Asset Management trimmed its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 977,500 shares of the real estate investment trust's stock after selling 195,500 shares during the period. LSV Asset Management owned about 0.44% of Kite Realty Group Trust worth $24,672,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Kite Realty Group Trust in the 4th quarter worth approximately $91,335,000. Centersquare Investment Management LLC acquired a new stake in Kite Realty Group Trust during the fourth quarter valued at $64,403,000. JPMorgan Chase & Co. grew 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 purchasing an additional 2,308,613 shares in the last quarter. Aew Capital Management L P acquired a new position in Kite Realty Group Trust in the 4th quarter worth about $31,663,000. Finally, Invesco Ltd. boosted 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. Hedge funds and other institutional investors own 90.81% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Jefferies Financial Group cut Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their target price for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. 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 on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company decreased their price target on shares of 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. Raymond James dropped their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research note on Monday, March 10th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. 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. Based on data from MarketBeat.com, Kite Realty Group Trust has an average rating of "Moderate Buy" and an average price target of $27.88.
Read Our Latest Stock Analysis on KRG
Kite Realty Group Trust Price Performance
Shares of NYSE:KRG traded up $0.46 during trading on Thursday, reaching $21.50. The stock had a trading volume of 617,302 shares, compared to its average volume of 1,640,301. The stock has a market capitalization of $4.72 billion, a PE ratio of 1,075.70, a P/E/G ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a 52 week low of $18.52 and a 52 week high of $28.24. The business's 50-day moving average price is $21.98 and its 200 day moving average price is $24.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.
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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. As a group, equities analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.
Kite Realty Group Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 5.02%. Kite Realty Group Trust's dividend payout ratio (DPR) 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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