Handelsbanken Fonder AB Purchases 1,500 Shares of Kite Realty Group Trust (NYSE:KRG)

Handelsbanken Fonder AB boosted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 2.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,333 shares of the real estate investment trust’s stock after buying an additional 1,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Kite Realty Group Trust were worth $1,725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KRG. EMC Capital Management raised its holdings in Kite Realty Group Trust by 4.9% in the 4th quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 447 shares in the last quarter. Fifth Third Bancorp raised its holdings in Kite Realty Group Trust by 2.6% in the 4th 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 raised its holdings in Kite Realty Group Trust by 0.5% in the 3rd 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. State of Alaska Department of Revenue raised its holdings in Kite Realty Group Trust by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock worth $3,408,000 after purchasing an additional 484 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Kite Realty Group Trust by 15.8% in the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 652 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KRG. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. JPMorgan Chase & Co. reduced their target price on shares of 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. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their target price for the stock from $31.00 to $27.00 in a research 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 research report on Thursday, February 13th. Finally, KeyCorp upped their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Five 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.37 on Wednesday. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The company’s 50-day moving average is $23.70 and its 200 day moving average is $25.36. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 1,118.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98.

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

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 5,400.00%.

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.