JPMorgan Chase & Co. Has $244.60 Million Position in Kite Realty Group Trust $KRG

JPMorgan Chase & Co. cut its position in Kite Realty Group Trust (NYSE:KRG) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,968,418 shares of the real estate investment trust’s stock after selling 1,447,884 shares during the quarter. JPMorgan Chase & Co. owned 5.07% of Kite Realty Group Trust worth $244,596,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in KRG. Norges Bank acquired a new position in shares of Kite Realty Group Trust in the second quarter valued at approximately $65,504,000. Sei Investments Co. boosted its position in Kite Realty Group Trust by 171.0% during the 2nd quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock worth $38,756,000 after buying an additional 1,079,727 shares during the period. Bank of America Corp DE grew its holdings in Kite Realty Group Trust by 14.9% during the 2nd quarter. Bank of America Corp DE now owns 5,956,664 shares of the real estate investment trust’s stock worth $134,918,000 after acquiring an additional 773,023 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Kite Realty Group Trust by 53.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,557 shares of the real estate investment trust’s stock valued at $44,835,000 after acquiring an additional 701,210 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC bought a new position in shares of Kite Realty Group Trust during the second quarter valued at $14,377,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KRG. Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group reissued a “neutral” rating and issued a $25.00 price target (up previously from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday. Weiss Ratings upgraded Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.63.

Kite Realty Group Trust Trading Up 1.3%

NYSE KRG opened at $25.92 on Friday. The stock has a market capitalization of $5.36 billion, a P/E ratio of 18.78, a P/E/G ratio of 6.42 and a beta of 0.91. The business has a 50 day simple moving average of $24.01 and a 200 day simple moving average of $22.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.74 and a quick ratio of 0.98. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $26.13.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 9th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $1.16 annualized dividend and a yield of 4.5%. Kite Realty Group Trust’s dividend payout ratio is currently 84.06%.

Kite Realty Group Trust Company 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.