Sterling Capital Management LLC Increases Stock Position in Kite Realty Group Trust (NYSE:KRG)

Sterling Capital Management LLC grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,114 shares of the real estate investment trust’s stock after purchasing an additional 5,472 shares during the period. Sterling Capital Management LLC’s holdings in Kite Realty Group Trust were worth $2,451,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Kite Realty Group Trust during the 3rd quarter valued at approximately $39,000. Versant Capital Management Inc increased its position 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 last quarter. FIL Ltd increased its position 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 worth $88,000 after purchasing an additional 579 shares during the last quarter. Spectrum Wealth Counsel LLC purchased a new stake in Kite Realty Group Trust during the fourth quarter valued at $101,000. Finally, Headlands Technologies LLC bought a new position in Kite Realty Group Trust during the fourth quarter valued at $116,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Up 1.0 %

Shares of KRG opened at $20.47 on Monday. The firm has a fifty day moving average price of $22.13 and a 200-day moving average price of $24.37. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The firm has a market capitalization 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. Kite Realty Group Trust has a 12-month low of $18.52 and a 12-month high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data 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 net margin of 0.48% and a return on equity of 0.12%. Equities research analysts expect 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 disclosed 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 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 payout ratio is currently 5,400.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their target price on 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. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, Raymond James dropped their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.88.

About Kite Realty Group Trust

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.