Raymond James Financial Inc. Makes New Investment in Kite Realty Group Trust (NYSE:KRG)

Raymond James Financial Inc. bought a new stake in Kite Realty Group Trust (NYSE:KRG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 777,796 shares of the real estate investment trust’s stock, valued at approximately $19,632,000. Raymond James Financial Inc. owned about 0.35% of Kite Realty Group Trust at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in Kite Realty Group Trust in the 4th quarter valued at about $1,180,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Kite Realty Group Trust by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock valued at $94,039,000 after acquiring an additional 73,926 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Kite Realty Group Trust by 18.6% during the fourth quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust’s stock valued at $2,741,000 after acquiring an additional 17,015 shares during the last quarter. Aew Capital Management L P bought a new stake in Kite Realty Group Trust during the fourth quarter worth $31,663,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in Kite Realty Group Trust by 37.6% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 259,455 shares of the real estate investment trust’s stock worth $6,549,000 after purchasing an additional 70,949 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Trading Up 1.5 %

NYSE:KRG opened at $21.36 on Friday. Kite Realty Group Trust has a 1 year low of $18.52 and a 1 year high of $28.24. The stock’s fifty day moving average price is $21.90 and its two-hundred day moving average price is $24.20. 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 company has a market cap of $4.69 billion, a P/E ratio of 1,067.80, a P/E/G ratio of 3.57 and a beta of 1.05.

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, topping analysts’ consensus estimates 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, 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 disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 5.06%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KRG shares. Wells Fargo & Company decreased their target price on 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. Raymond James dropped their target price on shares of 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. Piper Sandler restated a “neutral” rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. 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. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five equities research 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 company. According to data from MarketBeat, the stock 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.