LSV Asset Management Has $22.32 Million Position in Kite Realty Group Trust (NYSE:KRG)

LSV Asset Management raised its stake in Kite Realty Group Trust (NYSE:KRG) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 997,600 shares of the real estate investment trust’s stock after purchasing an additional 20,100 shares during the quarter. LSV Asset Management owned approximately 0.45% of Kite Realty Group Trust worth $22,316,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Kite Realty Group Trust in the first quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC bought a new position in Kite Realty Group Trust in the first quarter valued at approximately $25,000. Optiver Holding B.V. grew its stake in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 467 shares in the last quarter. CX Institutional bought a new position in Kite Realty Group Trust in the first quarter valued at approximately $79,000. Finally, FIL Ltd grew its stake in Kite Realty Group Trust by 19.8% in the fourth 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 in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KRG. UBS Group began coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target for the company. Wall Street Zen downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Raymond James Financial decreased their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Friday, May 23rd. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.22.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $21.63 on Monday. The stock has a market cap of $4.75 billion, a P/E ratio of 27.37, a PEG ratio of 6.57 and a beta of 1.16. The stock has a 50 day simple moving average of $22.49 and a 200 day simple moving average of $22.35. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $211.18 million during the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 136.71%.

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.