Mesirow Institutional Investment Management Inc. increased its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,822 shares of the real estate investment trust's stock after purchasing an additional 73,043 shares during the quarter. Mesirow Institutional Investment Management Inc. owned approximately 0.26% of Kite Realty Group Trust worth $14,180,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Kite Realty Group Trust in the fourth quarter valued at $1,180,000. Charles Schwab Investment Management Inc. boosted its position in shares of Kite Realty Group Trust by 2.0% in the fourth 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. Raymond James Financial Inc. purchased a new stake in shares of Kite Realty Group Trust in the fourth quarter worth about $19,632,000. New York State Common Retirement Fund raised 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 buying an additional 17,015 shares during the period. Finally, Aew Capital Management L P acquired a new position in Kite Realty Group Trust during the 4th quarter worth approximately $31,663,000. Institutional investors and hedge funds own 90.81% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on KRG shares. JPMorgan Chase & Co. reduced 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 report on Wednesday, January 15th. Piper Sandler reaffirmed a "neutral" rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company lowered 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 research note on Wednesday, March 26th. Jefferies Financial Group cut Kite Realty Group Trust from a "buy" rating to a "hold" rating and reduced their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, Raymond James dropped 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 research note on Monday, March 10th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.88.
Read Our Latest Research Report on KRG
Kite Realty Group Trust Price Performance
Shares of KRG traded down $0.12 during midday trading on Friday, reaching $21.76. The stock had a trading volume of 407,783 shares, compared to its average volume of 1,636,045. The firm's 50 day moving average price is $21.81 and its 200-day moving average price is $24.10. The company has a market capitalization of $4.78 billion, a P/E ratio of 1,086.50, 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 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 posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts' consensus estimates 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%. On average, analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.
Kite Realty Group Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio is 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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