Los Angeles Capital Management LLC Takes Position in Kite Realty Group Trust (NYSE:KRG)

Los Angeles Capital Management LLC acquired a new stake in Kite Realty Group Trust (NYSE:KRG) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 24,191 shares of the real estate investment trust’s stock, valued at approximately $524,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pensionfund DSM Netherlands lifted its stake in Kite Realty Group Trust by 12.1% during the first quarter. Pensionfund DSM Netherlands now owns 83,500 shares of the real estate investment trust’s stock worth $1,810,000 after purchasing an additional 9,000 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $314,000. Vanguard Group Inc. lifted its stake in Kite Realty Group Trust by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 32,715,871 shares of the real estate investment trust’s stock worth $747,885,000 after purchasing an additional 344,226 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $107,000. Finally, Pineridge Advisors LLC purchased a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

KRG has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Thursday, April 18th. Wells Fargo & Company lifted their price target on Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Trading Down 1.5 %

KRG opened at $21.87 on Wednesday. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 84.12, a price-to-earnings-growth ratio of 5.53 and a beta of 1.28. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $24.26. The business’s 50 day moving average is $21.47 and its two-hundred day moving average is $21.56. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Tuesday, July 9th. Kite Realty Group Trust’s payout ratio is currently 384.63%.

Kite Realty Group Trust Company 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.