Pictet Asset Management Holding SA Boosts Holdings in Kite Realty Group Trust (NYSE:KRG)

Pictet Asset Management Holding SA raised its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,580 shares of the real estate investment trust’s stock after buying an additional 3,068 shares during the period. Pictet Asset Management Holding SA’s holdings in Kite Realty Group Trust were worth $1,731,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth $39,000. Versant Capital Management Inc grew its holdings in Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC purchased a new stake in Kite Realty Group Trust in the fourth quarter worth about $101,000. GAMMA Investing LLC raised its stake in shares of Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division lifted its position in shares of Kite Realty Group Trust by 19.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,210 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Trading Down 3.6 %

Shares of Kite Realty Group Trust stock opened at $20.82 on Friday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $22.58 and a 200-day moving average price of $24.70. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 1,040.75, a PEG ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share 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%. Equities research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is 5,400.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on KRG shares. Jefferies Financial Group cut shares of 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 note on Thursday, January 2nd. JPMorgan Chase & Co. dropped their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Piper Sandler reiterated a “neutral” rating and issued 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. Raymond James lowered their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 10th. Finally, Wells Fargo & Company cut 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. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust presently 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.