Mirae Asset Global Investments Co. Ltd. Has $154,000 Position in Kite Realty Group Trust (NYSE:KRG)

Mirae Asset Global Investments Co. Ltd. reduced its holdings in Kite Realty Group Trust (NYSE:KRG) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,130 shares of the real estate investment trust’s stock after selling 2,394 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Kite Realty Group Trust were worth $154,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EMC Capital Management grew its position in shares of Kite Realty Group Trust by 4.9% in the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 447 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Kite Realty Group Trust by 2.6% in the fourth quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock valued at $465,000 after buying an additional 466 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kite Realty Group Trust by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock valued at $2,554,000 after buying an additional 483 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Kite Realty Group Trust by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock valued at $3,408,000 after buying an additional 484 shares during the period. Finally, GAMMA Investing LLC lifted its stake 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 valued at $121,000 after buying an additional 652 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KRG has been the subject of several research reports. Robert W. Baird increased their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. 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. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday. Wells Fargo & Company reduced their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.13.

Kite Realty Group Trust Stock Up 1.6 %

NYSE KRG opened at $23.32 on Friday. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average is $24.36 and its two-hundred day moving average is $25.47. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of -582.88, a PEG ratio of 3.63 and a beta of 1.27. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. Equities analysts forecast that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is currently -2,700.00%.

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.