Kite Realty Group Trust (NYSE:KRG) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its holdings in Kite Realty Group Trust (NYSE:KRG) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 431,997 shares of the real estate investment trust’s stock after acquiring an additional 3,300 shares during the period. Swiss National Bank’s holdings in Kite Realty Group Trust were worth $10,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Kite Realty Group Trust in the third quarter worth $39,000. Versant Capital Management Inc boosted its holdings in Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC acquired a new position in Kite Realty Group Trust in the fourth quarter worth $101,000. GAMMA Investing LLC lifted its stake in Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 652 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in Kite Realty Group Trust by 19.6% in the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KRG shares. JPMorgan Chase & Co. cut 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. Raymond James cut their target price 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 cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Five investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.13.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $22.43 on Friday. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The firm’s 50-day simple moving average is $22.78 and its 200 day simple moving average is $24.99. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a market cap of $4.93 billion, a P/E ratio of 1,121.25, a P/E/G ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Wednesday, April 9th. 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.