Proficio Capital Partners LLC Buys Shares of 46,770 Kite Realty Group Trust (NYSE:KRG)

Proficio Capital Partners LLC purchased a new position in Kite Realty Group Trust (NYSE:KRG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 46,770 shares of the real estate investment trust’s stock, valued at approximately $1,180,000.

Several other hedge funds have also recently made changes to their positions in KRG. Wilmington Savings Fund Society FSB bought a new stake in Kite Realty Group Trust in the 3rd quarter worth approximately $39,000. Versant Capital Management Inc boosted its stake in shares of Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,080 shares during 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. GAMMA Investing LLC grew its holdings 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 acquiring an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in Kite Realty Group Trust by 19.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 1,210 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $22.43 on Friday. The stock has a market cap of $4.93 billion, a PE ratio of 1,121.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The firm has a fifty day moving average price of $22.78 and a 200-day moving average price of $24.99. 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 issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that Kite Realty Group Trust will post 2.05 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. Investors of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 5,400.00%.

Analyst Ratings Changes

A number of research firms have issued reports on KRG. JPMorgan Chase & Co. cut their price target on 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. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Raymond James cut their price objective 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 report on Monday, March 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five investment 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 stock. Based on data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus price target of $28.13.

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.