Kite Realty Group Trust (NYSE:KRG) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. decreased its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,849 shares of the real estate investment trust's stock after selling 17,905 shares during the period. Balyasny Asset Management L.P. owned about 0.08% of Kite Realty Group Trust worth $4,363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE grew its position in Kite Realty Group Trust by 9.0% during the fourth quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust's stock worth $95,543,000 after buying an additional 311,258 shares during the period. BNP Paribas Financial Markets grew its position in Kite Realty Group Trust by 45.0% during the fourth quarter. BNP Paribas Financial Markets now owns 77,983 shares of the real estate investment trust's stock worth $1,968,000 after buying an additional 24,201 shares during the period. Ameriprise Financial Inc. grew its position in Kite Realty Group Trust by 9.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,210,594 shares of the real estate investment trust's stock worth $30,555,000 after buying an additional 102,665 shares during the period. Algert Global LLC acquired a new position in Kite Realty Group Trust during the fourth quarter worth about $7,252,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Kite Realty Group Trust during the fourth quarter worth about $225,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KRG. 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 research report on Thursday, February 13th. Raymond James reduced their price target on shares of 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 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, March 26th. Finally, JPMorgan Chase & Co. reduced their price target 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. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.88.

Kite Realty Group Trust Trading Down 1.6%

Shares of Kite Realty Group Trust stock traded down $0.37 during trading hours on Wednesday, hitting $22.54. The company's stock had a trading volume of 1,498,292 shares, compared to its average volume of 1,689,713. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The business has a fifty day moving average of $21.76 and a 200 day moving average of $23.76. The company has a market capitalization of $4.95 billion, a PE ratio of 1,127.00, a P/E/G ratio of 3.57 and a beta of 1.10. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.

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

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is 1,542.86%.

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.