Ethic Inc. Acquires New Position in Kite Realty Group Trust (NYSE:KRG)

Ethic Inc. acquired a new stake in Kite Realty Group Trust (NYSE:KRG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,962 shares of the real estate investment trust’s stock, valued at approximately $226,000.

Other hedge funds also recently added to or reduced their stakes in the company. Optiver Holding B.V. increased its holdings 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 buying an additional 467 shares in the last quarter. FIL Ltd increased its holdings 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 buying an additional 579 shares in the last quarter. Spectrum Wealth Counsel LLC purchased a new position in Kite Realty Group Trust in the fourth quarter valued at about $101,000. Headlands Technologies LLC purchased a new position in Kite Realty Group Trust in the fourth quarter valued at about $116,000. Finally, KBC Group NV increased its holdings in Kite Realty Group Trust by 38.4% in the fourth quarter. KBC Group NV now owns 8,210 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 2,277 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on KRG shares. Raymond James dropped their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, March 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Wells Fargo & Company dropped 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. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Kite Realty Group Trust Trading Up 1.2%

Shares of KRG opened at $23.15 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a 50 day simple moving average of $21.79 and a 200-day simple moving average of $23.70. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 1,157.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. The business had revenue of $221.76 million during the quarter, compared to analysts’ expectations of $211.07 million. Equities analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 annualized dividend and a yield of 4.66%. Kite Realty Group Trust’s payout ratio is currently 1,542.86%.

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.