Metis Global Partners LLC Raises Position in Kite Realty Group Trust (NYSE:KRG)

Metis Global Partners LLC raised its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,186 shares of the real estate investment trust’s stock after buying an additional 2,571 shares during the period. Metis Global Partners LLC’s holdings in Kite Realty Group Trust were worth $636,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 acquiring an additional 1,105,539 shares during the last quarter. Franklin Resources Inc. increased 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 during the period. Eagle Asset Management Inc. bought a new stake in Kite Realty Group Trust in the third quarter valued at approximately $7,486,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $5,934,000. Finally, Barclays PLC grew its holdings in shares of Kite Realty Group Trust by 29.0% in the third 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 during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

KRG stock opened at $22.84 on Wednesday. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The firm has a 50-day moving average of $23.40 and a 200 day moving average of $25.28. 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 company has a market cap of $5.02 billion, a P/E ratio of 1,141.75, a PEG ratio of 3.57 and a beta of 1.27.

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

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

Analyst Ratings Changes

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

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.