Quantbot Technologies LP Has $569,000 Position in Kite Realty Group Trust (NYSE:KRG)

Quantbot Technologies LP cut its holdings in Kite Realty Group Trust (NYSE:KRG) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,531 shares of the real estate investment trust’s stock after selling 4,892 shares during the period. Quantbot Technologies LP’s holdings in Kite Realty Group Trust were worth $569,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $39,000. Versant Capital Management Inc raised its holdings in shares of Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,080 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new position in shares of Kite Realty Group Trust during the fourth quarter worth approximately $101,000. GAMMA Investing LLC lifted its holdings in Kite Realty Group Trust by 15.8% during the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 652 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in Kite Realty Group Trust by 19.6% in the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

KRG has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler restated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James cut their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company reduced their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on 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. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Stock Down 0.3 %

Shares of KRG opened at $22.59 on Friday. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The firm has a market cap of $4.96 billion, a P/E ratio of 1,129.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The firm’s 50-day simple moving average is $22.75 and its 200 day simple moving average is $24.88. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (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, analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share 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. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.78%. Kite Realty Group Trust’s payout ratio is 5,400.00%.

About Kite Realty Group Trust

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.