Wolverine Asset Management LLC Increases Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Wolverine Asset Management LLC increased its position in Kite Realty Group Trust (NYSE:KRG) by 280.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,800 shares of the real estate investment trust’s stock after acquiring an additional 1,327 shares during the quarter. Wolverine Asset Management LLC’s holdings in Kite Realty Group Trust were worth $41,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Duality Advisers LP purchased a new stake in Kite Realty Group Trust in the 4th quarter worth approximately $973,000. Federated Hermes Inc. boosted its stake in Kite Realty Group Trust by 11.8% during the fourth quarter. Federated Hermes Inc. now owns 267,354 shares of the real estate investment trust’s stock valued at $6,112,000 after buying an additional 28,250 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Kite Realty Group Trust by 17.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,252 shares of the real estate investment trust’s stock valued at $2,109,000 after buying an additional 13,375 shares during the period. Strs Ohio grew its position in Kite Realty Group Trust by 156.6% during the fourth quarter. Strs Ohio now owns 1,869,278 shares of the real estate investment trust’s stock worth $42,731,000 after buying an additional 1,140,700 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Kite Realty Group Trust in the 4th quarter worth about $1,408,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KRG. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Thursday, April 18th. StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.00.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $21.26 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.76 and a quick ratio of 0.76. Kite Realty Group Trust has a one year low of $19.16 and a one year high of $24.26. The business’s 50 day simple moving average is $21.01 and its two-hundred day simple moving average is $21.40. The stock has a market capitalization of $4.67 billion, a P/E ratio of 96.64, a price-to-earnings-growth ratio of 3.06 and a beta of 1.29.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, April 5th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, April 4th. This represents a $1.00 dividend on an annualized basis and a yield of 4.70%. Kite Realty Group Trust’s dividend payout ratio is currently 454.57%.

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.