55,553 Shares in Kite Realty Group Trust (NYSE:KRG) Purchased by Allstate Corp

Allstate Corp bought a new position in shares of Kite Realty Group Trust (NYSE:KRG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 55,553 shares of the real estate investment trust’s stock, valued at approximately $1,402,000.

A number of other institutional investors have also made changes to their positions in KRG. Norges Bank acquired a new position in Kite Realty Group Trust in the 4th quarter valued at about $91,335,000. JPMorgan Chase & Co. raised its position in shares of Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock worth $308,317,000 after acquiring an additional 2,308,613 shares in the last quarter. Aew Capital Management L P purchased a new stake in shares of Kite Realty Group Trust during the 4th quarter worth approximately $31,663,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Kite Realty Group Trust by 432.7% in the third 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, Raymond James Financial Inc. purchased a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at about $19,632,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Down 1.4 %

Shares of NYSE:KRG opened at $22.27 on Monday. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 1,113.50, a PEG ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock’s 50-day moving average price is $22.73 and its two-hundred day moving average price is $24.84.

Kite Realty Group Trust (NYSE:KRG) last issued 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%. On average, research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid 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 is presently 5,400.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KRG shares. Raymond James decreased their price target 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 note on Monday, March 10th. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. 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. 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. Finally, Wells Fargo & Company cut their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.88.

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.