Chartwell Investment Partners LLC Boosts Stake in Kite Realty Group Trust (NYSE:KRG)

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Chartwell Investment Partners LLC lifted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 351,923 shares of the real estate investment trust’s stock after purchasing an additional 15,327 shares during the quarter. Chartwell Investment Partners LLC owned about 0.42% of Kite Realty Group Trust worth $4,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of KRG. BlackRock Inc. boosted its stake in Kite Realty Group Trust by 0.4% during the first quarter. BlackRock Inc. now owns 14,533,345 shares of the real estate investment trust’s stock worth $137,632,000 after buying an additional 56,489 shares during the period. State Street Corp increased its holdings in Kite Realty Group Trust by 12.5% in the 1st quarter. State Street Corp now owns 4,837,613 shares of the real estate investment trust’s stock valued at $47,283,000 after purchasing an additional 538,827 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Kite Realty Group Trust by 33.9% in the 4th quarter. Macquarie Group Ltd. now owns 4,517,646 shares of the real estate investment trust’s stock valued at $88,230,000 after purchasing an additional 1,143,055 shares during the last quarter. Citigroup Inc. raised its position in Kite Realty Group Trust by 2,214.1% in the first quarter. Citigroup Inc. now owns 1,815,220 shares of the real estate investment trust’s stock valued at $17,190,000 after purchasing an additional 1,736,778 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Kite Realty Group Trust by 256.5% during the first quarter. JPMorgan Chase & Co. now owns 1,659,971 shares of the real estate investment trust’s stock worth $15,720,000 after purchasing an additional 1,194,282 shares in the last quarter. 95.50% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently issued reports on KRG. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 21st. Citigroup raised their price objective on shares of Kite Realty Group Trust from $8.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Piper Sandler upped their target price on shares of Kite Realty Group Trust from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Robert W. Baird decreased their price target on shares of Kite Realty Group Trust from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, TheStreet downgraded shares of Kite Realty Group Trust from a “c-” rating to a “d” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.71.

Kite Realty Group Trust stock opened at $9.87 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $10.86 and a 200-day simple moving average of $12.40. The stock has a market cap of $830.24 million, a P/E ratio of -123.38, a price-to-earnings-growth ratio of 5.95 and a beta of 1.24. Kite Realty Group Trust has a 12-month low of $6.87 and a 12-month high of $19.77.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.39). Kite Realty Group Trust had a negative net margin of 2.09% and a negative return on equity of 0.48%. The business had revenue of $69.91 million during the quarter, compared to analyst estimates of $70.80 million. As a group, sell-side analysts forecast that Kite Realty Group Trust will post 1.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, July 2nd were paid a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a yield of 2.11%. The ex-dividend date was Wednesday, July 1st. Kite Realty Group Trust’s payout ratio is 12.65%.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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