Kite Realty Group Trust $KRG Shares Bought by AlphaQuest LLC

AlphaQuest LLC grew its stake in Kite Realty Group Trust (NYSE:KRG) by 227.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 62,930 shares of the real estate investment trust’s stock after buying an additional 43,716 shares during the quarter. AlphaQuest LLC’s holdings in Kite Realty Group Trust were worth $1,403,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in KRG. Harbor Capital Advisors Inc. lifted its stake in Kite Realty Group Trust by 54.8% in the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 462 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Kite Realty Group Trust in the 2nd quarter valued at $30,000. First Horizon Corp purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC lifted its position in shares of Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 740 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC grew its stake in shares of Kite Realty Group Trust by 57.9% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 641 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KRG. Jefferies Financial Group restated a “hold” rating and issued a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. UBS Group reissued a “neutral” rating and set a $25.00 target price (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday, December 29th. Finally, Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.43.

Kite Realty Group Trust Trading Up 1.1%

KRG opened at $23.52 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $24.50. The business’s 50 day moving average is $23.40 and its two-hundred day moving average is $22.67. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 5.87 and a beta of 0.89.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.27%. On average, research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.9%. Kite Realty Group Trust’s dividend payout ratio is currently 181.25%.

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.