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

Vanguard Group Inc. raised its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 33,506,648 shares of the real estate investment trust’s stock after purchasing an additional 256,476 shares during the period. Vanguard Group Inc. owned 15.25% of Kite Realty Group Trust worth $845,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Kite Realty Group Trust during the 3rd quarter valued at about $39,000. Versant Capital Management Inc lifted its holdings in Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,080 shares in the last quarter. Spectrum Wealth Counsel LLC purchased a new position in Kite Realty Group Trust during the fourth quarter valued at approximately $101,000. GAMMA Investing LLC boosted its position in shares of Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division increased its stake in shares of Kite Realty Group Trust by 19.6% in the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 1,210 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $22.27 on Friday. The firm has a market cap of $4.89 billion, a PE ratio of 1,113.50, a PEG ratio of 3.57 and a beta of 1.30. The stock has a 50 day moving average of $22.73 and a 200 day moving average of $24.84. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. 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 posted its earnings results 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 return on equity of 0.12% and a net margin of 0.48%. On average, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Raymond James lowered their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 10th. Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered 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. Finally, Wells Fargo & Company cut their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.