Zurcher Kantonalbank Zurich Cantonalbank Has $3.65 Million Holdings in Kite Realty Group Trust (NYSE:KRG)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Kite Realty Group Trust (NYSE:KRG) by 50.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,621 shares of the real estate investment trust’s stock after purchasing an additional 48,480 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kite Realty Group Trust were worth $3,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Kite Realty Group Trust during the 3rd quarter worth about $39,000. Versant Capital Management Inc boosted its stake in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,080 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $101,000. GAMMA Investing LLC boosted its stake in shares of Kite Realty Group Trust by 15.8% during the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 652 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Kite Realty Group Trust by 19.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 1,210 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Kite Realty Group Trust Stock Up 2.6 %

Kite Realty Group Trust stock opened at $21.78 on Friday. The stock has a market cap of $4.79 billion, a P/E ratio of 1,089.20, a P/E/G ratio of 3.57 and a beta of 1.30. 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 has a twelve month low of $19.64 and a twelve month high of $28.24. The company’s 50-day moving average price is $22.92 and its two-hundred day moving average price is $25.09.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results 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 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 EPS 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 dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.96%. Kite Realty Group Trust’s dividend payout ratio is presently 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.