Sei Investments Co. Acquires 455,972 Shares of Kite Realty Group Trust (NYSE:KRG)

Sei Investments Co. increased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 273.7% in the fourth quarter, Holdings Channel reports. The firm owned 622,561 shares of the real estate investment trust’s stock after buying an additional 455,972 shares during the quarter. Sei Investments Co.’s holdings in Kite Realty Group Trust were worth $15,713,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KRG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in 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 worth $2,997,000 after buying an additional 32,619 shares during the last quarter. Magnetar Financial LLC bought a new position in Kite Realty Group Trust during the 4th quarter worth approximately $677,000. Teacher Retirement System of Texas grew its holdings in Kite Realty Group Trust by 4.3% during the fourth quarter. Teacher Retirement System of Texas now owns 110,342 shares of the real estate investment trust’s stock valued at $2,785,000 after purchasing an additional 4,532 shares during the period. Xponance Inc. increased its stake in Kite Realty Group Trust by 8.6% in the fourth quarter. Xponance Inc. now owns 32,033 shares of the real estate investment trust’s stock valued at $809,000 after purchasing an additional 2,526 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Kite Realty Group Trust by 4.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 199,062 shares of the real estate investment trust’s stock valued at $5,024,000 after purchasing an additional 8,797 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KRG shares. JPMorgan Chase & Co. decreased their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Raymond James decreased 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 report on Monday, March 10th. Finally, Wells Fargo & Company cut their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $22.27 on Friday. The firm’s 50 day moving average is $22.73 and its 200-day moving average is $24.85. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $4.89 billion, a PE ratio of 1,113.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24.

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, 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%. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors 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 yield of 4.85%. Kite Realty Group Trust’s payout ratio is presently 5,400.00%.

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.