Kite Realty Group Trust (NYSE:KRG) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Kite Realty Group Trust (NYSE:KRG) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 199,062 shares of the real estate investment trust’s stock after buying an additional 8,797 shares during the period. Thrivent Financial for Lutherans’ holdings in Kite Realty Group Trust were worth $5,024,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Kite Realty Group Trust by 0.8% during the third 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. lifted its holdings 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 in the last quarter. Franklin Resources Inc. boosted its stake in Kite Realty Group Trust by 51.5% during 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 purchasing an additional 673,976 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Kite Realty Group Trust by 432.7% during the 3rd 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 valued at $36,150,000 after acquiring an additional 1,105,539 shares in the last quarter. Finally, Aew Capital Management L P purchased a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $31,663,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on KRG. Wells Fargo & Company reduced their price target on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Piper Sandler reiterated a “neutral” rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Raymond James reduced their price target 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. Finally, JPMorgan Chase & Co. lowered their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. 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 stock. According to MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus price target of $28.13.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $22.74 on Tuesday. The business has a 50-day simple moving average of $22.77 and a 200-day simple moving average of $24.93. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The company has a market cap of $4.99 billion, a PE ratio of 1,136.80, a P/E/G ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping 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%. On average, equities research analysts forecast 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. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 5,400.00%.

Kite Realty Group Trust Company 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.