Kite Realty Group Trust (NYSE:KRG) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. reduced its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 73.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,672 shares of the real estate investment trust's stock after selling 69,219 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Kite Realty Group Trust were worth $623,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of KRG. Norges Bank bought a new position in shares of Kite Realty Group Trust in the 4th quarter worth about $91,335,000. Centersquare Investment Management LLC bought a new position in shares of Kite Realty Group Trust in the 4th quarter worth about $64,403,000. JPMorgan Chase & Co. increased its holdings in shares of Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after acquiring an additional 2,308,613 shares during the period. Aew Capital Management L P acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter worth about $31,663,000. Finally, Invesco Ltd. increased its holdings in shares of Kite Realty Group Trust by 36.5% in the 4th quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock worth $75,038,000 after acquiring an additional 794,651 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KRG shares. Wells Fargo & Company cut their price target on 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. Piper Sandler reissued a "neutral" rating and issued a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Raymond James decreased their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kite Realty Group Trust currently has an average rating of "Moderate Buy" and a consensus target price of $27.63.

Kite Realty Group Trust Price Performance

NYSE KRG traded up $0.57 on Tuesday, reaching $21.96. 1,483,336 shares of the stock traded hands, compared to its average volume of 1,689,528. The firm's fifty day simple moving average is $21.80 and its 200 day simple moving average is $23.48. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 1,098.15, a P/E/G ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $221.76 million during 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, research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is currently 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.