Sterling Capital Management LLC Acquires 5,472 Shares of Kite Realty Group Trust (NYSE:KRG)

Sterling Capital Management LLC increased its holdings in Kite Realty Group Trust (NYSE:KRG) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,114 shares of the real estate investment trust’s stock after buying an additional 5,472 shares during the period. Sterling Capital Management LLC’s holdings in Kite Realty Group Trust were worth $2,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Kite Realty Group Trust in the 4th quarter worth $19,632,000. Martingale Asset Management L P raised its stake in shares of Kite Realty Group Trust by 19.2% during the 4th quarter. Martingale Asset Management L P now owns 23,163 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 3,723 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Kite Realty Group Trust by 63.9% during the fourth quarter. Renaissance Technologies LLC now owns 885,596 shares of the real estate investment trust’s stock worth $22,352,000 after purchasing an additional 345,293 shares in the last quarter. FIL Ltd grew its stake in Kite Realty Group Trust by 19.8% during the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after buying an additional 579 shares during the last quarter. Finally, Invesco Ltd. increased its position in Kite Realty Group Trust by 36.5% during the 4th quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust’s stock valued at $75,038,000 after buying an additional 794,651 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 1.0 %

Shares of KRG stock opened at $20.47 on Monday. 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 twelve month low of $18.52 and a twelve month high of $28.24. The stock has a 50 day moving average of $22.13 and a 200 day moving average of $24.37. The stock has a market cap of $4.50 billion, a P/E ratio of 1,023.40, a P/E/G ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results 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 net margin of 0.48% and a return on equity of 0.12%. As a group, sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company 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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Wall Street Analysts Forecast Growth

KRG has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut 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. Raymond James lowered their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.88.

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.