Headlands Technologies LLC Buys Shares of 4,580 Kite Realty Group Trust (NYSE:KRG)

Headlands Technologies LLC purchased a new stake in Kite Realty Group Trust (NYSE:KRG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,580 shares of the real estate investment trust’s stock, valued at approximately $116,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Kite Realty Group Trust by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust’s stock valued at $845,708,000 after buying an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Kite Realty Group Trust by 23.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after acquiring an additional 2,308,613 shares during the last quarter. Geode Capital Management LLC increased its position in Kite Realty Group Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after purchasing an additional 43,015 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Kite Realty Group Trust by 2.0% in the 4th 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 purchasing an additional 73,926 shares during the last quarter. Finally, Norges Bank purchased a new position in Kite Realty Group Trust in the 4th quarter valued at about $91,335,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $20.82 on Monday. The business’s fifty day moving average price is $22.58 and its 200 day moving average price is $24.67. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $4.57 billion, a P/E 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 data 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%. As a group, research 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 firm 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 is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 5.19%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Wall Street Analyst Weigh In

A number of equities 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 cut their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on 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. Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Raymond James lowered their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, March 10th. Finally, Piper Sandler reissued a “neutral” rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Five equities research 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, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus price target of $27.88.

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.