APG Asset Management N.V. raised its holdings in Kite Realty Group Trust (NYSE:KRG) by 604.7% in the first quarter, Holdings Channel reports. The fund owned 215,629 shares of the real estate investment trust’s stock after acquiring an additional 185,029 shares during the period. APG Asset Management N.V.’s holdings in Kite Realty Group Trust were worth $2,042,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the business. Citigroup Inc. lifted its holdings in shares of Kite Realty Group Trust by 2,214.1% during the 1st quarter. Citigroup Inc. now owns 1,815,220 shares of the real estate investment trust’s stock valued at $17,190,000 after purchasing an additional 1,736,778 shares in the last quarter. Norges Bank acquired a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $23,472,000. JPMorgan Chase & Co. increased its position in shares of Kite Realty Group Trust by 256.5% during the first quarter. JPMorgan Chase & Co. now owns 1,659,971 shares of the real estate investment trust’s stock worth $15,720,000 after acquiring an additional 1,194,282 shares in the last quarter. Macquarie Group Ltd. lifted its position in Kite Realty Group Trust by 33.9% in the 4th quarter. Macquarie Group Ltd. now owns 4,517,646 shares of the real estate investment trust’s stock valued at $88,230,000 after acquiring an additional 1,143,055 shares in the last quarter. Finally, State Street Corp boosted its stake in Kite Realty Group Trust by 12.5% in the 1st quarter. State Street Corp now owns 4,837,613 shares of the real estate investment trust’s stock worth $47,283,000 after purchasing an additional 538,827 shares during the period. Institutional investors own 95.55% of the company’s stock.
Several research analysts have recently weighed in on KRG shares. TheStreet cut Kite Realty Group Trust from a “c-” rating to a “d” rating in a research report on Thursday, May 7th. Citigroup lowered their price objective on shares of Kite Realty Group Trust from $19.50 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Piper Sandler raised their target price on shares of Kite Realty Group Trust from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. ValuEngine cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, March 3rd. Finally, Compass Point cut Kite Realty Group Trust from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $12.00 in a report on Thursday, April 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Kite Realty Group Trust currently has an average rating of “Hold” and a consensus price target of $14.29.
Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.39). The firm had revenue of $69.91 million for the quarter, compared to the consensus estimate of $70.80 million. Kite Realty Group Trust had a negative return on equity of 0.48% and a negative net margin of 2.09%. As a group, analysts predict that Kite Realty Group Trust will post 1.25 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, July 1st. Kite Realty Group Trust’s payout ratio is 76.51%.
Kite Realty Group Trust Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.
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