Kite Realty Group Trust (NYSE:KRG) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 12.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,315 shares of the real estate investment trust’s stock after buying an additional 582 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kite Realty Group Trust were worth $117,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Certified Advisory Corp acquired a new stake in Kite Realty Group Trust during the first quarter worth $77,000. The PNC Financial Services Group Inc. increased its stake in Kite Realty Group Trust by 14.2% during the first quarter. The PNC Financial Services Group Inc. now owns 4,733 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 590 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Kite Realty Group Trust during the first quarter worth $108,000. Acadian Asset Management LLC grew its stake in shares of Kite Realty Group Trust by 373.3% in the first quarter. Acadian Asset Management LLC now owns 7,752 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 6,114 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its stake in shares of Kite Realty Group Trust by 15.0% in the first quarter. Point72 Hong Kong Ltd now owns 8,307 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 1,083 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on the company. Barclays assumed coverage on Kite Realty Group Trust in a research note on Wednesday, September 1st. They issued an “overweight” rating and a $27.00 price objective for the company. Raymond James raised Kite Realty Group Trust from an “outperform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, August 25th. Piper Sandler lifted their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, September 1st. Finally, Zacks Investment Research raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $23.50.

NYSE:KRG opened at $20.48 on Tuesday. The firm has a market cap of $1.73 billion, a PE ratio of 128.01, a price-to-earnings-growth ratio of 3.29 and a beta of 1.46. The stock has a fifty day moving average price of $20.05 and a 200 day moving average price of $20.57. Kite Realty Group Trust has a 12-month low of $10.00 and a 12-month high of $23.14. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.06.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Monday, August 2nd. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.04. Kite Realty Group Trust had a return on equity of 1.05% and a net margin of 4.76%. Equities analysts forecast that Kite Realty Group Trust will post 1.34 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 8th. Shareholders of record on Friday, October 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, September 30th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 55.81%.

About Kite Realty Group Trust

Kite Realty Group Trust operates as a real estate investment trust. It engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded on August 16, 2004 and is headquartered in Indianapolis, IN.

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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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