abrdn plc Purchases 26,160 Shares of Kite Realty Group Trust (NYSE:KRG)

abrdn plc boosted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 58.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,086 shares of the real estate investment trust’s stock after buying an additional 26,160 shares during the quarter. abrdn plc’s holdings in Kite Realty Group Trust were worth $1,775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 worth $36,150,000 after purchasing an additional 1,105,539 shares during the period. Franklin Resources Inc. lifted its holdings in Kite Realty Group Trust by 51.5% in 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 buying an additional 673,976 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth approximately $7,486,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $5,934,000. Finally, Barclays PLC raised its holdings in shares of Kite Realty Group Trust by 29.0% during the third quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust’s stock valued at $25,139,000 after acquiring an additional 212,983 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $23.19 on Tuesday. The business’s 50 day moving average price is $24.59 and its 200-day moving average price is $25.49. 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 market cap of $5.09 billion, a P/E ratio of -579.80, a P/E/G ratio of 3.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. KeyCorp lifted their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group cut 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. Wells Fargo & Company decreased their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Robert W. Baird raised their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.13.

Kite Realty Group Trust Profile

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.