Ontario Teachers Pension Plan Board Invests $1.06 Million in Kite Realty Group Trust (NYSE:KRG)

Ontario Teachers Pension Plan Board purchased a new stake in Kite Realty Group Trust (NYSE:KRG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,009 shares of the real estate investment trust’s stock, valued at approximately $1,060,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in Kite Realty Group Trust in the 4th quarter valued at about $1,180,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Kite Realty Group Trust by 2.0% in 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 acquiring an additional 73,926 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $19,632,000. New York State Common Retirement Fund lifted its holdings in Kite Realty Group Trust by 18.6% during the fourth quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust’s stock worth $2,741,000 after acquiring an additional 17,015 shares during the period. Finally, Aew Capital Management L P purchased a new position in Kite Realty Group Trust in the fourth quarter worth $31,663,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

KRG has been the topic of a number of recent analyst reports. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their target price for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company reduced 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 report on Wednesday, March 26th. JPMorgan Chase & Co. lowered 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 report on Wednesday, January 15th. Finally, Raymond James reduced their price objective on 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. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.88.

Kite Realty Group Trust Stock Up 0.9 %

Kite Realty Group Trust stock opened at $20.78 on Wednesday. The firm has a 50 day simple moving average of $22.03 and a 200 day simple moving average of $24.31. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 1,039.20, a P/E/G ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly 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 return on equity of 0.12% and a net margin of 0.48%. On average, analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 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.