Northern Trust Corp Buys 539,322 Shares of Kite Realty Group Trust (NYSE:KRG)

Northern Trust Corp lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,623,860 shares of the real estate investment trust's stock after buying an additional 539,322 shares during the period. Northern Trust Corp owned about 1.65% of Kite Realty Group Trust worth $91,466,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of KRG. EMC Capital Management increased its position in shares of Kite Realty Group Trust by 4.9% during the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust's stock valued at $242,000 after acquiring an additional 447 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Kite Realty Group Trust by 2.6% during the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust's stock valued at $465,000 after purchasing an additional 466 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 467 shares during the period. Arizona State Retirement System boosted its holdings in shares of Kite Realty Group Trust by 0.8% in the 4th quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust's stock worth $1,609,000 after buying an additional 516 shares during the last quarter. Finally, FIL Ltd grew its position in Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after buying an additional 579 shares during the period. Institutional investors own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KRG. 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. Raymond James lowered their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a report on Monday, March 10th. Wells Fargo & Company dropped their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, Piper Sandler reissued a "neutral" rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $27.88.

Kite Realty Group Trust Stock Performance

KRG stock remained flat at $22.45 during midday trading on Friday. 1,755,334 shares of the company's stock were exchanged, compared to its average volume of 1,679,994. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 1,122.50, a PEG ratio of 3.57 and a beta of 1.10. The firm has a 50 day moving average price of $21.73 and a 200-day moving average price of $23.80. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year 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 earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share 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 business had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. As a group, analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders 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 4.81%. Kite Realty Group Trust's payout ratio is currently 1,542.86%.

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.