Magnetar Financial LLC Acquires New Holdings in Kite Realty Group Trust (NYSE:KRG)

Magnetar Financial LLC acquired a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,839 shares of the real estate investment trust’s stock, valued at approximately $677,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Kite Realty Group Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock valued at $150,865,000 after purchasing an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Kite Realty Group Trust by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock valued at $94,039,000 after buying an additional 73,926 shares during the last quarter. Franklin Resources Inc. increased its holdings in Kite Realty Group Trust by 51.5% during the third quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock valued at $50,684,000 after buying an additional 673,976 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Kite Realty Group Trust by 432.7% during the third 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 buying an additional 1,105,539 shares during the last quarter. Finally, Aew Capital Management L P purchased a new stake in Kite Realty Group Trust during the fourth quarter valued at approximately $31,663,000. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on KRG shares. JPMorgan Chase & Co. reduced their target price 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. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James reduced 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. Finally, Wells Fargo & Company reduced their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $22.12 on Friday. The stock has a market cap of $4.86 billion, a PE ratio of 1,105.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The firm has a fifty day moving average price of $22.77 and a 200-day moving average price of $24.97. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG) last posted its 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 net margin of 0.48% and a return on equity of 0.12%. Equities analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 4.88%. Kite Realty Group Trust’s payout ratio is 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.