Van ECK Associates Corp Increases Stake in Kite Realty Group Trust (NYSE:KRG)

Van ECK Associates Corp raised its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,130 shares of the real estate investment trust’s stock after buying an additional 3,811 shares during the quarter. Van ECK Associates Corp’s holdings in Kite Realty Group Trust were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Kite Realty Group Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock valued at $150,865,000 after buying an additional 43,015 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Kite Realty Group Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock valued at $96,993,000 after buying an additional 173,290 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Kite Realty Group Trust by 51.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock valued at $50,684,000 after acquiring an additional 673,976 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Kite Realty Group Trust by 432.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after acquiring an additional 1,105,539 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Kite Realty Group Trust by 29.0% during the 3rd quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust’s stock valued at $25,139,000 after acquiring an additional 212,983 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KRG shares. JPMorgan Chase & Co. lowered their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. KeyCorp increased their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Jefferies Financial Group downgraded 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 report on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.13.

Kite Realty Group Trust Stock Down 1.2 %

NYSE:KRG opened at $21.92 on Friday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 1,096.15, a price-to-earnings-growth ratio of 3.60 and a beta of 1.27. The stock has a fifty day simple moving average of $23.87 and a 200-day simple moving average of $25.37. 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 (NYSE:KRG) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the consensus estimate 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%. Analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.93%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

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.