Norges Bank Purchases Shares of 3,618,671 Kite Realty Group Trust (NYSE:KRG)

Norges Bank acquired a new position in shares of Kite Realty Group Trust (NYSE:KRG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,618,671 shares of the real estate investment trust’s stock, valued at approximately $91,335,000. Norges Bank owned about 1.65% of Kite Realty Group Trust at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Kite Realty Group Trust by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust’s stock valued at $845,708,000 after purchasing an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after buying an additional 2,308,613 shares during the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 43,015 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $94,039,000 after buying an additional 73,926 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in 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 worth $50,684,000 after acquiring an additional 673,976 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on 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. Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Raymond James dropped their price target 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. Finally, Wells Fargo & Company reduced 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 research report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Stock Up 2.0 %

KRG stock opened at $22.90 on Thursday. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 1,145.00, a PEG ratio of 3.57 and a beta of 1.30. The business’s fifty day moving average price is $22.68 and its two-hundred day moving average price is $24.76.

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 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 analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.72%. 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.