95,056 Shares in Kite Realty Group Trust (NYSE:KRG) Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 95,056 shares of the real estate investment trust’s stock, valued at approximately $2,399,000.

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lowered their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Raymond James cut their target price on 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. Piper Sandler reissued a “neutral” rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Five investment 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. According to MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $22.27 on Friday. 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 has a 1-year low of $19.64 and a 1-year high of $28.24. The business has a 50 day simple moving average of $22.73 and a two-hundred day simple moving average of $24.84. The stock has a market capitalization of $4.89 billion, a PE ratio of 1,113.50, a P/E/G ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. On average, research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 5,400.00%.

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.