Nomura Holdings Inc. Makes New $734,000 Investment in Kite Realty Group Trust (NYSE:KRG)

Nomura Holdings Inc. acquired a new position in Kite Realty Group Trust (NYSE:KRG) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 29,093 shares of the real estate investment trust’s stock, valued at approximately $734,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optiver Holding B.V. grew its stake in shares of Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 467 shares in the last quarter. FIL Ltd grew its stake in shares of Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after buying an additional 579 shares in the last quarter. Spectrum Wealth Counsel LLC purchased a new position in shares of Kite Realty Group Trust in the 4th quarter worth $101,000. Headlands Technologies LLC bought a new stake in shares of Kite Realty Group Trust in the 4th quarter worth about $116,000. Finally, KBC Group NV lifted its holdings in shares of Kite Realty Group Trust by 38.4% in the 4th quarter. KBC Group NV now owns 8,210 shares of the real estate investment trust’s stock worth $207,000 after acquiring an additional 2,277 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Trading Down 2.3%

Shares of KRG opened at $22.47 on Wednesday. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The company has a 50-day moving average of $21.82 and a 200 day moving average of $23.66. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 1,123.50, 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 (NYSE:KRG) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating 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 business had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. On average, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The firm 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 dividend payout ratio is currently 1,542.86%.

Analysts Set New Price Targets

KRG has been the subject of several analyst reports. Wells Fargo & Company lowered their target price 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, March 26th. 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 report on Monday, March 10th. Finally, Piper Sandler restated a “neutral” rating and issued a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.88.

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.