Kite Realty Group Trust (NYSE:KRG) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its holdings in Kite Realty Group Trust (NYSE:KRG) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,842 shares of the real estate investment trust’s stock after buying an additional 25,671 shares during the period. Wells Fargo & Company MN owned about 0.08% of Kite Realty Group Trust worth $4,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Proficio Capital Partners LLC purchased a new position in Kite Realty Group Trust during the 4th quarter worth approximately $1,180,000. Charles Schwab Investment Management Inc. boosted its stake in Kite Realty Group Trust by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock worth $94,039,000 after purchasing an additional 73,926 shares during the period. Raymond James Financial Inc. purchased a new position in Kite Realty Group Trust during the 4th quarter worth $19,632,000. New York State Common Retirement Fund increased its stake in Kite Realty Group Trust by 18.6% in the fourth quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust’s stock valued at $2,741,000 after purchasing an additional 17,015 shares during the period. Finally, Aew Capital Management L P purchased a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at about $31,663,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

KRG has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on 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. Piper Sandler restated 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 report on Thursday, February 13th. Raymond James decreased their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Five research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Kite Realty Group Trust Stock Down 0.8 %

KRG stock opened at $21.18 on Tuesday. 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 firm has a market capitalization of $4.65 billion, a PE ratio of 1,059.00, a P/E/G ratio of 3.57 and a beta of 1.05. The company’s 50 day simple moving average is $21.86 and its 200-day simple moving average is $24.16.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the consensus estimate 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%. Equities analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th were paid a $0.27 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 5.10%. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

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.