Swiss National Bank Grows Holdings in Kite Realty Group Trust (NYSE:KRG)

Swiss National Bank lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 431,997 shares of the real estate investment trust’s stock after acquiring an additional 3,300 shares during the period. Swiss National Bank owned 0.20% of Kite Realty Group Trust worth $10,904,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $1,180,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kite Realty Group Trust by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock worth $94,039,000 after acquiring an additional 73,926 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $19,632,000. Eagle Asset Management Inc. purchased a new position in shares of Kite Realty Group Trust during the 3rd quarter worth about $7,486,000. Finally, Aew Capital Management L P purchased a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $31,663,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Up 0.1 %

Shares of NYSE:KRG opened at $22.43 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The company has a 50 day moving average of $22.78 and a two-hundred day moving average of $24.99. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 1,121.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data 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%. As a group, analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KRG shares. JPMorgan Chase & Co. cut their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Raymond James cut their price target 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 lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Wells Fargo & Company cut 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 report on Wednesday, January 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently 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.