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

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kite Realty Group Trust (NYSE:KRG) by 50.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,621 shares of the real estate investment trust’s stock after acquiring an additional 48,480 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Kite Realty Group Trust worth $3,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of KRG. Atria Investments Inc acquired a new position in shares of Kite Realty Group Trust in the 3rd quarter worth approximately $216,000. Metis Global Partners LLC boosted its holdings in shares of Kite Realty Group Trust by 29.7% in the 3rd quarter. Metis Global Partners LLC now owns 22,615 shares of the real estate investment trust’s stock worth $601,000 after acquiring an additional 5,179 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in Kite Realty Group Trust in the 3rd quarter worth approximately $365,000. Connable Office Inc. bought a new position in Kite Realty Group Trust in the 3rd quarter worth approximately $207,000. Finally, Natixis Advisors LLC raised its position in Kite Realty Group Trust by 14.3% in the 3rd quarter. Natixis Advisors LLC now owns 69,142 shares of the real estate investment trust’s stock worth $1,836,000 after purchasing an additional 8,645 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Price Performance

KRG opened at $21.78 on Friday. 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 12 month low of $19.64 and a 12 month high of $28.24. The company has a fifty day simple moving average of $22.92 and a 200 day simple moving average of $25.09. 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.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data 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%. On average, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective 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 report on Wednesday, January 29th. Raymond James dropped their price objective 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 report on Monday, March 10th. JPMorgan Chase & Co. dropped 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 report on Wednesday, January 15th. Piper Sandler restated a “neutral” rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Finally, Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $31.00 to $27.00 in a research report 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. According to data from MarketBeat.com, Kite Realty Group Trust presently has a consensus 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.