OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 59,135 Kite Realty Group Trust $KRG

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 59,135 shares of the real estate investment trust’s stock, valued at approximately $1,417,000.

Other large investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its position in Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares in the last quarter. First Horizon Corp bought a new stake in Kite Realty Group Trust during the 3rd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC boosted its position in Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 740 shares in the last quarter. Smallwood Wealth Investment Management LLC boosted its position in Kite Realty Group Trust by 57.9% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 641 shares in the last quarter. Finally, Danske Bank A S bought a new stake in Kite Realty Group Trust during the 3rd quarter valued at approximately $49,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $25.62 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The business’s 50 day moving average price is $25.39 and its 200-day moving average price is $23.89. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $26.82. The stock has a market cap of $5.20 billion, a P/E ratio of 18.56, a P/E/G ratio of 4.74 and a beta of 0.88.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Thursday, April 9th. Kite Realty Group Trust’s payout ratio is currently 84.06%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KRG. Weiss Ratings raised Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Wall Street Zen raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Citigroup reaffirmed a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company lifted their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Hold” and a consensus target price of $26.38.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.