Aew Capital Management L P Makes New Investment in Kite Realty Group Trust (NYSE:KRG)

Aew Capital Management L P purchased a new position in Kite Realty Group Trust (NYSE:KRG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,254,468 shares of the real estate investment trust’s stock, valued at approximately $31,663,000. Kite Realty Group Trust makes up about 1.5% of Aew Capital Management L P’s portfolio, making the stock its 19th largest holding.

Other institutional investors have also modified their holdings of the company. Eagle Asset Management Inc. acquired a new position in shares of Kite Realty Group Trust in the third quarter worth $7,486,000. Cerity Partners LLC grew its stake in shares of Kite Realty Group Trust by 105.1% during the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock worth $1,279,000 after purchasing an additional 24,679 shares in the last quarter. Versor Investments LP acquired a new position in shares of Kite Realty Group Trust during the third quarter worth $537,000. Vanderbilt University grew its stake in shares of Kite Realty Group Trust by 115.2% during the fourth quarter. Vanderbilt University now owns 32,411 shares of the real estate investment trust’s stock worth $818,000 after purchasing an additional 17,348 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Kite Realty Group Trust during the third quarter worth $631,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $22.93 on Friday. The company has a fifty day moving average of $23.53 and a two-hundred day moving average of $25.30. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $5.04 billion, a PE ratio of 1,146.45, a P/E/G ratio of 3.57 and a beta of 1.27.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.71%. Kite Realty Group Trust’s payout ratio is 5,400.00%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. KeyCorp boosted their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Five 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.13.

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.