Fox Run Management L.L.C. Makes New $1.06 Million Investment in Kite Realty Group Trust (NYSE:KRG)

Fox Run Management L.L.C. acquired a new stake in Kite Realty Group Trust (NYSE:KRG) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 41,916 shares of the real estate investment trust’s stock, valued at approximately $1,058,000.

A number of other institutional investors have also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new stake in Kite Realty Group Trust during the 4th quarter valued at $1,333,000. Sei Investments Co. increased its position in shares of Kite Realty Group Trust by 273.7% in the fourth quarter. Sei Investments Co. now owns 622,561 shares of the real estate investment trust’s stock valued at $15,713,000 after acquiring an additional 455,972 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Kite Realty Group Trust by 37.9% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 118,737 shares of the real estate investment trust’s stock valued at $2,997,000 after acquiring an additional 32,619 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $677,000. Finally, Teacher Retirement System of Texas grew its stake in shares of Kite Realty Group Trust by 4.3% in the fourth quarter. Teacher Retirement System of Texas now owns 110,342 shares of the real estate investment trust’s stock worth $2,785,000 after purchasing an additional 4,532 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $22.12 on Friday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The firm has a market capitalization of $4.86 billion, a P/E ratio of 1,105.75, a P/E/G ratio of 3.57 and a beta of 1.30. 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 business has a fifty day simple moving average of $22.77 and a two-hundred day simple moving average of $24.96.

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

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.88%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Raymond James lowered their price target 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. Wells Fargo & Company decreased their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler restated a “neutral” rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.13.

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.