JPMorgan Chase & Co. Purchases 2,308,613 Shares of Kite Realty Group Trust (NYSE:KRG)

JPMorgan Chase & Co. raised its position in Kite Realty Group Trust (NYSE:KRG) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,215,421 shares of the real estate investment trust’s stock after buying an additional 2,308,613 shares during the period. JPMorgan Chase & Co. owned 5.56% of Kite Realty Group Trust worth $308,317,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Citigroup Inc. increased its position in shares of Kite Realty Group Trust by 58.6% during the third quarter. Citigroup Inc. now owns 227,242 shares of the real estate investment trust’s stock valued at $6,036,000 after acquiring an additional 83,963 shares during the last quarter. Cerity Partners LLC grew its stake in Kite Realty Group Trust by 105.1% in the 3rd quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock valued at $1,279,000 after purchasing an additional 24,679 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter valued at $728,000. FMR LLC raised its stake in shares of Kite Realty Group Trust by 2.6% during the 3rd quarter. FMR LLC now owns 28,610 shares of the real estate investment trust’s stock worth $760,000 after purchasing an additional 737 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Kite Realty Group Trust by 11.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 53,782 shares of the real estate investment trust’s stock worth $1,428,000 after buying an additional 5,447 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 1.4 %

KRG opened at $22.27 on Monday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The company has a market cap of $4.89 billion, a PE ratio of 1,113.50, 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. The company has a 50 day moving average of $22.73 and a 200 day moving average of $24.84.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 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%. On average, sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is presently 5,400.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on KRG shares. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target on shares of 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. Piper Sandler reiterated a “neutral” rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Raymond James reduced their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, March 10th. Finally, Wells Fargo & Company lowered their target price on 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 equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

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.