Kite Realty Group Trust (NYSE:KRG) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,417,447 shares of the real estate investment trust’s stock after selling 28,856 shares during the period. Legal & General Group Plc owned about 0.65% of Kite Realty Group Trust worth $35,776,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of KRG. Vanguard Group Inc. lifted its holdings in Kite Realty Group Trust by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust’s stock worth $845,708,000 after buying an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after acquiring an additional 2,308,613 shares in the last quarter. Geode Capital Management LLC lifted its stake in Kite Realty Group Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after purchasing an additional 43,015 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Kite Realty Group Trust by 2.0% in the fourth 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. Finally, Norges Bank bought a new stake in Kite Realty Group Trust during the fourth quarter valued at $91,335,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $20.47 on Friday. The stock has a market cap of $4.50 billion, a P/E ratio of 1,023.40, a P/E/G ratio of 3.57 and a beta of 1.05. The firm’s 50-day simple moving average is $22.13 and its 200 day simple moving average is $24.38. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Equities analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

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 paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 5.28%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KRG. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price target for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Piper Sandler reiterated a “neutral” rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Raymond James dropped 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 report on Monday, March 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and a consensus price target of $27.88.

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.