New Age Alpha Advisors LLC Acquires Shares of 95,056 Kite Realty Group Trust (NYSE:KRG)

New Age Alpha Advisors LLC bought a new position in Kite Realty Group Trust (NYSE:KRG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 95,056 shares of the real estate investment trust’s stock, valued at approximately $2,399,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in Kite Realty Group Trust during the third quarter worth about $39,000. Versant Capital Management Inc boosted its position in shares of Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,080 shares in the last quarter. Spectrum Wealth Counsel LLC purchased a new stake in shares of Kite Realty Group Trust in the 4th quarter worth approximately $101,000. GAMMA Investing LLC increased its position in Kite Realty Group Trust by 15.8% during the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 652 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in Kite Realty Group Trust by 19.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,210 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KRG shares. Raymond James cut their target price on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 10th. 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. JPMorgan Chase & Co. decreased their target price on shares of 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. 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 report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday. Five equities research 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Kite Realty Group Trust Stock Down 1.4 %

KRG opened at $22.27 on Friday. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 1,113.50, a PEG ratio of 3.57 and a beta of 1.30. The firm has a 50 day moving average price of $22.73 and a 200-day moving average price of $24.84. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is 5,400.00%.

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.