Edgestream Partners L.P. Buys 225,922 Shares of Kite Realty Group Trust (NYSE:KRG)

Edgestream Partners L.P. raised its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 619.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 262,390 shares of the real estate investment trust’s stock after purchasing an additional 225,922 shares during the quarter. Edgestream Partners L.P. owned 0.12% of Kite Realty Group Trust worth $6,623,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in KRG. Geode Capital Management LLC grew its position in Kite Realty Group Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after buying an additional 43,015 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Kite Realty Group Trust by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock worth $94,039,000 after purchasing an additional 73,926 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Kite Realty Group Trust by 51.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after purchasing an additional 673,976 shares in the last quarter. 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 purchasing an additional 1,105,539 shares during the period. Finally, Aew Capital Management L P acquired a new position in shares of Kite Realty Group Trust in the fourth quarter valued at $31,663,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KRG. JPMorgan Chase & Co. decreased 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 note on Wednesday, January 15th. Robert W. Baird upped their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company cut their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Piper Sandler reiterated a “neutral” rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.13.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $22.31 on Friday. The stock has a market capitalization of $4.90 billion, a P/E ratio of 1,115.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The firm has a 50 day moving average of $23.28 and a 200-day moving average of $25.24. 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 (NYSE:KRG) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm 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. This represents a $1.08 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 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.