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

Northern Trust Corp increased its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,623,860 shares of the real estate investment trust's stock after purchasing an additional 539,322 shares during the period. Northern Trust Corp owned 1.65% of Kite Realty Group Trust worth $91,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in KRG. Vanguard Group Inc. boosted its position in Kite Realty Group Trust by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock valued at $845,708,000 after buying an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 worth $308,317,000 after buying an additional 2,308,613 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $94,039,000 after acquiring an additional 73,926 shares in the last quarter. Norges Bank bought a new position in Kite Realty Group Trust during the 4th quarter valued at $91,335,000. Finally, Invesco Ltd. grew its holdings in 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 currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Price Performance

Shares of KRG traded up $0.26 during trading hours on Wednesday, hitting $22.40. 2,360,276 shares of the company were exchanged, compared to its average volume of 1,671,656. The firm has a fifty day simple moving average of $21.77 and a 200-day simple moving average of $23.87. The company has a market capitalization of $4.92 billion, a PE ratio of 1,120.00, a PEG ratio of 3.57 and a beta of 1.10. 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 has a one year low of $18.52 and a one year high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. The company had revenue of $221.76 million during the quarter, compared to analysts' expectations of $211.07 million. As a group, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.82%. Kite Realty Group Trust's payout ratio is 1,542.86%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler restated a "neutral" rating and set a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Wells Fargo & Company dropped 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. 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 for the company in a research report on Monday, March 10th. Finally, 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 for the company in a research note on Wednesday, January 15th. Five 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.88.

Kite Realty Group Trust Profile

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.