Voloridge Investment Management LLC Raises Holdings in Kite Realty Group Trust (NYSE:KRG)

Voloridge Investment Management LLC increased its position in Kite Realty Group Trust (NYSE:KRG) by 260.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246,773 shares of the real estate investment trust’s stock after buying an additional 178,291 shares during the quarter. Voloridge Investment Management LLC owned about 0.11% of Kite Realty Group Trust worth $6,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Systematic Financial Management LP raised its position in shares of Kite Realty Group Trust by 4.0% in the 4th quarter. Systematic Financial Management LP now owns 794,687 shares of the real estate investment trust’s stock worth $20,058,000 after buying an additional 30,272 shares during the period. ProShare Advisors LLC raised its position in Kite Realty Group Trust by 41.1% in the fourth quarter. ProShare Advisors LLC now owns 71,434 shares of the real estate investment trust’s stock valued at $1,803,000 after purchasing an additional 20,823 shares during the period. Quantinno Capital Management LP raised its position in Kite Realty Group Trust by 11.8% in the fourth quarter. Quantinno Capital Management LP now owns 33,619 shares of the real estate investment trust’s stock valued at $849,000 after purchasing an additional 3,548 shares during the period. Man Group plc raised its position in Kite Realty Group Trust by 446.4% in the fourth quarter. Man Group plc now owns 45,520 shares of the real estate investment trust’s stock valued at $1,149,000 after purchasing an additional 37,189 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its position in Kite Realty Group Trust by 1.8% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust’s stock valued at $806,000 after purchasing an additional 556 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Down 0.8%

Shares of NYSE KRG opened at $21.41 on Monday. Kite Realty Group Trust has a 1 year low of $18.52 and a 1 year high of $28.24. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 1,070.35, a PEG ratio of 3.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The stock’s 50-day simple moving average is $21.82 and its 200-day simple moving average is $23.52.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. As a group, equities analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 5.05%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust’s dividend payout ratio is currently 1,542.86%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Piper Sandler reissued a “neutral” rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, Raymond James dropped their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Friday. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus target price of $27.63.

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.