Pictet Asset Management Holding SA Purchases 3,068 Shares of Kite Realty Group Trust (NYSE:KRG)

Pictet Asset Management Holding SA grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 68,580 shares of the real estate investment trust’s stock after acquiring an additional 3,068 shares during the period. Pictet Asset Management Holding SA’s holdings in Kite Realty Group Trust were worth $1,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Kite Realty Group Trust in the fourth quarter worth $91,335,000. JPMorgan Chase & Co. grew its position in shares of Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock worth $308,317,000 after buying an additional 2,308,613 shares during the period. Aew Capital Management L P bought a new position in shares of Kite Realty Group Trust in the 4th quarter worth about $31,663,000. Raymond James Financial Inc. purchased a new position in Kite Realty Group Trust during the 4th quarter valued at about $19,632,000. Finally, Franklin Resources Inc. boosted its stake 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 worth $50,684,000 after acquiring an additional 673,976 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $20.82 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 1,040.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The business has a 50-day simple moving average of $22.58 and a two-hundred day simple moving average of $24.70. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data 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%. On average, analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.19%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KRG. Wells Fargo & Company decreased 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 research note on Wednesday, March 26th. Piper Sandler reissued 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. JPMorgan Chase & Co. cut their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Raymond James lowered their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, March 10th. Finally, Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. 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, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average target price of $27.88.

About Kite Realty Group Trust

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.