Perpetual Ltd Takes $811,000 Position in Kite Realty Group Trust (NYSE:KRG)

Perpetual Ltd bought a new position in shares of Kite Realty Group Trust (NYSE:KRG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 32,140 shares of the real estate investment trust’s stock, valued at approximately $811,000.

Other hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. bought a new position in shares of Kite Realty Group Trust in the third quarter valued at about $7,486,000. Cerity Partners LLC lifted its position in shares of Kite Realty Group Trust by 105.1% during the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock worth $1,279,000 after purchasing an additional 24,679 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Kite Realty Group Trust in the third quarter valued at approximately $537,000. Systematic Financial Management LP raised its position in Kite Realty Group Trust by 34.0% in the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock worth $15,410,000 after purchasing an additional 174,797 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Kite Realty Group Trust by 118.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock worth $2,784,000 after buying an additional 67,542 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

KRG has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price objective on 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 upped 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. 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. Finally, Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.13.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $23.05 on Thursday. The firm 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 company has a fifty day moving average price of $25.61 and a 200 day moving average price of $25.48. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97.

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

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, January 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.69%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

Kite Realty Group Trust 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.