55,553 Shares in Kite Realty Group Trust (NYSE:KRG) Bought by Allstate Corp

Allstate Corp bought a new stake in Kite Realty Group Trust (NYSE:KRG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 55,553 shares of the real estate investment trust’s stock, valued at approximately $1,402,000.

Several other institutional investors have also recently added to or reduced their stakes in KRG. Citigroup Inc. raised its position in shares of Kite Realty Group Trust by 58.6% during the 3rd quarter. Citigroup Inc. now owns 227,242 shares of the real estate investment trust’s stock valued at $6,036,000 after acquiring an additional 83,963 shares in the last quarter. Cerity Partners LLC raised its position in shares of Kite Realty Group Trust by 105.1% during the 3rd quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock worth $1,279,000 after buying an additional 24,679 shares in the last quarter. Quantbot Technologies LP bought a new stake in Kite Realty Group Trust during the third quarter worth approximately $728,000. FMR LLC lifted its holdings in shares of Kite Realty Group Trust by 2.6% in the third quarter. FMR LLC now owns 28,610 shares of the real estate investment trust’s stock valued at $760,000 after buying an additional 737 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Kite Realty Group Trust by 11.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 53,782 shares of the real estate investment trust’s stock valued at $1,428,000 after acquiring an additional 5,447 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KRG. Wells Fargo & Company reduced their target price 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. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Raymond James cut their target price on shares of 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. JPMorgan Chase & Co. lowered their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.88.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $22.27 on Monday. The business has a fifty day simple moving average of $22.73 and a 200 day simple moving average of $24.84. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 1,113.50, a P/E/G ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 4.85%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 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.