AlphaQuest LLC Acquires 41,847 Shares of Kite Realty Group Trust $KRG

Key Points

• AlphaQuest LLC increased its position in Kite Realty Group Trust by 45.0% during the first quarter, resulting in ownership of 134,902 shares worth approximately $3,018,000.
• Analysts have downgraded their ratings for Kite Realty Group Trust, with Raymond James reducing its price target from $28.00 to $26.00 and other firms issuing hold ratings, leading to a consensus rating of "Hold".
• Kite Realty Group Trust declared a quarterly dividend of $0.27 per share, representing a 4.9% dividend yield, with an ex-dividend date set for October 9th.

AlphaQuest LLC grew its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 45.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,902 shares of the real estate investment trust's stock after purchasing an additional 41,847 shares during the quarter. Kite Realty Group Trust makes up 0.3% of AlphaQuest LLC's investment portfolio, making the stock its 18th largest holding. AlphaQuest LLC owned 0.06% of Kite Realty Group Trust worth $3,018,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Kite Realty Group Trust by 8.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust's stock valued at $130,615,000 after buying an additional 459,752 shares in the last quarter. Algert Global LLC boosted its holdings in Kite Realty Group Trust by 88.5% in the first quarter. Algert Global LLC now owns 541,567 shares of the real estate investment trust's stock worth $12,115,000 after acquiring an additional 254,258 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Kite Realty Group Trust by 6.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 253,446 shares of the real estate investment trust's stock worth $5,670,000 after purchasing an additional 15,089 shares during the last quarter. Aberdeen Group plc raised its stake in shares of Kite Realty Group Trust by 5.6% in the first quarter. Aberdeen Group plc now owns 75,085 shares of the real estate investment trust's stock worth $1,680,000 after purchasing an additional 3,999 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its position in Kite Realty Group Trust by 79.6% during the first quarter. Fox Run Management L.L.C. now owns 75,284 shares of the real estate investment trust's stock valued at $1,684,000 after acquiring an additional 33,368 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Up 0.7%

Shares of KRG traded up $0.16 during midday trading on Wednesday, reaching $22.45. 565,126 shares of the stock were exchanged, compared to its average volume of 1,872,478. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 6.19 and a beta of 1.16. The firm has a 50 day simple moving average of $22.33 and a 200-day simple moving average of $22.16. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The company had revenue of $211.18 million during the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Research 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 announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be issued a $0.27 dividend. The ex-dividend date is Thursday, October 9th. This represents a $1.08 annualized dividend and a yield of 4.8%. Kite Realty Group Trust's payout ratio is presently 136.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price target on Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a research note on Wednesday. Wall Street Zen cut Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Piper Sandler reaffirmed a "neutral" rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. UBS Group began coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price on the stock. Finally, Raymond James Financial decreased their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $27.00.

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.