Vanguard Group Inc. Buys 256,476 Shares of Kite Realty Group Trust (NYSE:KRG)

Vanguard Group Inc. boosted its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,506,648 shares of the real estate investment trust’s stock after buying an additional 256,476 shares during the quarter. Vanguard Group Inc. owned approximately 0.15% of Kite Realty Group Trust worth $845,708,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of KRG. LPL Financial LLC raised its stake in shares of Kite Realty Group Trust by 29.5% in the fourth quarter. LPL Financial LLC now owns 134,625 shares of the real estate investment trust’s stock valued at $3,398,000 after acquiring an additional 30,692 shares during the period. Fox Run Management L.L.C. bought a new position in Kite Realty Group Trust during the 4th quarter valued at about $1,058,000. KLP Kapitalforvaltning AS purchased a new stake in Kite Realty Group Trust in the 4th quarter worth about $1,333,000. Sei Investments Co. lifted its stake in Kite Realty Group Trust by 273.7% in the fourth quarter. Sei Investments Co. now owns 622,561 shares of the real estate investment trust’s stock worth $15,713,000 after purchasing an additional 455,972 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Kite Realty Group Trust by 37.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 118,737 shares of the real estate investment trust’s stock worth $2,997,000 after purchasing an additional 32,619 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Price Performance

KRG opened at $22.27 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The business’s fifty day simple moving average is $22.73 and its 200-day simple moving average is $24.84. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 1,113.50, a PEG ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last issued its 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%. On average, equities research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 5,400.00%.

Analysts Set New Price Targets

KRG has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Jefferies Financial Group downgraded 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. Raymond James lowered their target price 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. Finally, Wells Fargo & Company reduced their price target on shares of 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. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust 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.