Clearbridge Investments LLC Grows Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Clearbridge Investments LLC lifted its position in Kite Realty Group Trust (NYSE:KRG) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 798,457 shares of the real estate investment trust’s stock after buying an additional 5,783 shares during the quarter. Clearbridge Investments LLC’s holdings in Kite Realty Group Trust were worth $20,153,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KRG. EMC Capital Management grew its holdings in Kite Realty Group Trust by 4.9% during the 4th quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 447 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Kite Realty Group Trust by 2.6% during the fourth quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock worth $465,000 after purchasing an additional 466 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Kite Realty Group Trust by 0.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock worth $2,554,000 after purchasing an additional 483 shares in the last quarter. Arizona State Retirement System increased its holdings in Kite Realty Group Trust by 0.8% in the fourth quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust’s stock valued at $1,609,000 after buying an additional 516 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Kite Realty Group Trust by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 129,014 shares of the real estate investment trust’s stock valued at $3,255,000 after buying an additional 636 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KRG. JPMorgan Chase & Co. lowered their price objective 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 reaffirmed 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. 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 on the stock in a report on Monday, March 10th. Jefferies Financial Group cut shares of 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 report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price target 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 note on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.88.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $22.49 on Wednesday. The company’s 50 day simple moving average is $22.69 and its 200-day simple moving average is $24.78. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The firm has a market cap of $4.94 billion, a PE ratio of 1,124.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. 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 posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders 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 4.80%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 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.