Perpetual Ltd Makes New Investment in Kite Realty Group Trust (NYSE:KRG)

Perpetual Ltd acquired a new stake in Kite Realty Group Trust (NYSE:KRG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,140 shares of the real estate investment trust’s stock, valued at approximately $811,000.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kite Realty Group Trust by 0.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock valued at $2,554,000 after purchasing an additional 483 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Kite Realty Group Trust by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock worth $3,408,000 after buying an additional 484 shares during the period. Marcum Wealth LLC grew its stake in Kite Realty Group Trust by 1.4% in the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after buying an additional 571 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Kite Realty Group Trust by 15.8% during the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 652 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in Kite Realty Group Trust by 2.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock worth $629,000 after buying an additional 671 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KRG shares. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. KeyCorp lifted their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird increased their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $23.05 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The stock has a market cap of $5.06 billion, a PE ratio of -576.13, a PEG ratio of 3.61 and a beta of 1.29. The firm’s fifty day moving average price is $25.61 and its two-hundred day moving average price is $25.48.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.43). The business had revenue of $207.25 million for the quarter, compared to analyst estimates of $210.39 million. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, equities analysts expect that Kite Realty Group Trust will post 2.07 EPS for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, January 10th were given a dividend of $0.27 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 4.69%. The ex-dividend date was Friday, January 10th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,700.00%.

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.