Magnetar Financial LLC Acquires Shares of 26,839 Kite Realty Group Trust (NYSE:KRG)

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

A number of other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Kite Realty Group Trust by 0.8% in 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 acquiring an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 period. Franklin Resources Inc. increased its position in shares of 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 period. Finally, Aew Capital Management L P purchased a new position in shares of Kite Realty Group Trust during the fourth quarter valued at about $31,663,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KRG. Wells Fargo & Company reduced their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of 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. Piper Sandler reiterated 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. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, Raymond James cut their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and a consensus price target of $28.13.

Kite Realty Group Trust Trading Down 1.3 %

Shares of NYSE KRG opened at $22.12 on Friday. The firm’s 50 day moving average price is $22.77 and its 200-day moving average price is $24.97. The company has a market cap of $4.86 billion, a PE ratio of 1,105.75, a P/E/G ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping 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, equities research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.88%. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

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.