Algert Global LLC Purchases New Position in Kite Realty Group Trust (NYSE:KRG)

Algert Global LLC acquired a new position in shares of Kite Realty Group Trust (NYSE:KRG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 287,309 shares of the real estate investment trust’s stock, valued at approximately $7,252,000. Algert Global LLC owned about 0.13% of Kite Realty Group Trust as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Kite Realty Group Trust during the 3rd quarter worth approximately $39,000. Versant Capital Management Inc grew its position in shares of Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,080 shares during the last quarter. Optiver Holding B.V. increased its holdings in shares of Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 467 shares during the period. FIL Ltd raised its position in Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 579 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC acquired a new stake in Kite Realty Group Trust during the 4th quarter worth $101,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 1.9 %

KRG opened at $22.48 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The stock has a market capitalization of $4.94 billion, a P/E ratio of 1,124.00, a P/E/G ratio of 3.57 and a beta of 1.10. The business has a 50 day simple moving average of $21.77 and a 200-day simple moving average of $23.91.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. The company had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. On average, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 annualized dividend and a yield of 4.80%. Kite Realty Group Trust’s payout ratio is currently 1,542.86%.

Analysts Set New Price Targets

A number of research firms have commented on KRG. Wells Fargo & Company dropped their price objective on shares of 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. 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 research note on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Piper Sandler restated a “neutral” rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Moderate Buy” and an average target price of $27.88.

Kite Realty Group Trust 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.