AlphaQuest LLC Has $3.02 Million Stock Position in 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 raised its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 45.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 comprises approximately 0.3% of AlphaQuest LLC's holdings, making the stock its 18th biggest holding. AlphaQuest LLC owned approximately 0.06% of Kite Realty Group Trust worth $3,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in KRG. Optiver Holding B.V. increased its stake in Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after buying an additional 467 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Kite Realty Group Trust by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust's stock worth $1,376,000 after purchasing an additional 500 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Kite Realty Group Trust by 1.8% in the 4th 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 buying an additional 556 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Kite Realty Group Trust by 3.3% in the 4th quarter. IHT Wealth Management LLC now owns 18,489 shares of the real estate investment trust's stock valued at $467,000 after buying an additional 582 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in shares of Kite Realty Group Trust by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust's stock valued at $1,177,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KRG. UBS Group began coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price for the company. Wall Street Zen lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Piper Sandler reaffirmed a "neutral" rating and issued a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Finally, Raymond James Financial reduced their price target 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 given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $27.11.

Kite Realty Group Trust Trading Down 0.3%

Shares of KRG stock traded down $0.08 during trading hours on Tuesday, reaching $22.30. 1,772,432 shares of the stock traded hands, compared to its average volume of 1,881,543. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. The business has a fifty day moving average price of $22.33 and a 200 day moving average price 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. The firm has a market capitalization of $4.90 billion, a PE ratio of 28.23, a PEG ratio of 6.30 and a beta of 1.16.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The business had revenue of $211.18 million for 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. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio is currently 136.71%.

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.