Cubist Systematic Strategies LLC Buys 85,189 Shares of Kite Realty Group Trust (NYSE:KRG)

Cubist Systematic Strategies LLC grew its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,383 shares of the real estate investment trust's stock after buying an additional 85,189 shares during the quarter. Cubist Systematic Strategies LLC owned 0.16% of Kite Realty Group Trust worth $8,642,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KRG. Barclays PLC boosted its holdings in shares of Kite Realty Group Trust by 29.0% in the 3rd quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust's stock valued at $25,139,000 after purchasing an additional 212,983 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Kite Realty Group Trust during the third quarter worth approximately $39,000. Franklin Resources Inc. increased its stake in Kite Realty Group Trust by 51.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust's stock valued at $50,684,000 after buying an additional 673,976 shares during the period. GAMMA Investing LLC raised its position in shares of 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, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Kite Realty Group Trust by 53.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 46,793 shares of the real estate investment trust's stock worth $1,181,000 after acquiring an additional 16,330 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Stock Up 3.9%

NYSE KRG traded up $0.87 during trading on Monday, hitting $23.30. The stock had a trading volume of 1,712,811 shares, compared to its average volume of 1,680,125. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. 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 company's 50-day moving average price is $21.73 and its two-hundred day moving average price is $23.78. The company has a market capitalization of $5.12 billion, a PE ratio of 1,165.20, a P/E/G ratio of 3.57 and a beta of 1.10.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. The business had revenue of $221.76 million for 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, sell-side analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KRG. JPMorgan Chase & Co. lowered 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 research note on Wednesday, January 15th. Wells Fargo & Company dropped 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 research note on Wednesday, March 26th. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Finally, Raymond James dropped 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 research report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Kite Realty Group Trust has an average rating of "Moderate Buy" and an average target price of $27.88.

Kite Realty Group Trust Profile

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.