Mutual of America Capital Management LLC Purchases 86,639 Shares of Kite Realty Group Trust (NYSE:KRG)

Mutual of America Capital Management LLC lifted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 28.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,659 shares of the real estate investment trust’s stock after purchasing an additional 86,639 shares during the period. Mutual of America Capital Management LLC owned 0.18% of Kite Realty Group Trust worth $9,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Kite Realty Group Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after buying an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. increased its position in Kite Realty Group Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock worth $96,993,000 after acquiring an additional 173,290 shares during the period. Franklin Resources Inc. raised its stake in Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after purchasing an additional 673,976 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Kite Realty Group Trust by 432.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after purchasing an additional 1,105,539 shares during the period. Finally, Barclays PLC grew its position in shares of Kite Realty Group Trust by 29.0% during the 3rd quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust’s stock worth $25,139,000 after purchasing an additional 212,983 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped 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 research report on Wednesday, January 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Wells Fargo & Company reduced 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 report on Wednesday, January 29th. KeyCorp boosted their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird increased their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $22.93 on Friday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month 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. The business has a fifty day simple moving average of $23.48 and a 200 day simple moving average of $25.30. The company has a market cap of $5.04 billion, a P/E ratio of 1,146.45, a P/E/G ratio of 3.57 and a beta of 1.27.

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

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.71%. Kite Realty Group Trust’s payout ratio is presently 5,400.00%.

Kite Realty Group Trust Company 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.