Quantbot Technologies LP Sells 4,892 Shares of Kite Realty Group Trust (NYSE:KRG)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Kite Realty Group Trust by 37.9% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 118,737 shares of the real estate investment trust’s stock valued at $2,997,000 after acquiring an additional 32,619 shares during the period. Magnetar Financial LLC bought a new stake in Kite Realty Group Trust in the fourth quarter worth approximately $677,000. Teacher Retirement System of Texas lifted its position in shares of Kite Realty Group Trust by 4.3% during the 4th quarter. Teacher Retirement System of Texas now owns 110,342 shares of the real estate investment trust’s stock valued at $2,785,000 after acquiring an additional 4,532 shares during the period. Xponance Inc. grew its stake in shares of Kite Realty Group Trust by 8.6% in the 4th quarter. Xponance Inc. now owns 32,033 shares of the real estate investment trust’s stock valued at $809,000 after buying an additional 2,526 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Kite Realty Group Trust by 4.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 199,062 shares of the real estate investment trust’s stock valued at $5,024,000 after acquiring an additional 8,797 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 0.3 %

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

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, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. Sell-side analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.78%. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Analysts Set New Price Targets

KRG has been the subject of several recent research reports. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company lowered their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday. 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 on the stock in a report on Wednesday, January 15th. Finally, Raymond James cut their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.88.

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.