Ontario Teachers Pension Plan Board Takes $1.06 Million Position in Kite Realty Group Trust (NYSE:KRG)

Ontario Teachers Pension Plan Board acquired a new position in shares of Kite Realty Group Trust (NYSE:KRG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,009 shares of the real estate investment trust’s stock, valued at approximately $1,060,000.

Several other large investors have also made changes to their positions in KRG. Proficio Capital Partners LLC acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $1,180,000. Charles Schwab Investment Management Inc. grew its stake in shares of Kite Realty Group Trust by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock worth $94,039,000 after buying an additional 73,926 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kite Realty Group Trust during the fourth quarter worth $19,632,000. New York State Common Retirement Fund increased its holdings 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 worth $2,741,000 after buying an additional 17,015 shares in the last quarter. Finally, Aew Capital Management L P bought a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $31,663,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Up 0.9 %

KRG opened at $20.78 on Wednesday. Kite Realty Group Trust has a twelve month low of $18.52 and a twelve month high of $28.24. The company has a fifty day moving average of $22.03 and a 200-day moving average of $24.31. The stock has a market cap of $4.57 billion, a PE ratio of 1,039.20, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The business 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 $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is 5,400.00%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KRG shares. JPMorgan Chase & Co. reduced 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 report on Wednesday, January 15th. 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 note on Monday, March 10th. Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company reduced their target price on shares of 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. Finally, Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price target for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.