D. E. Shaw & Co. Inc. Trims Stock Position in Kite Realty Group Trust (NYSE:KRG)

D. E. Shaw & Co. Inc. cut its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 73.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. boosted its stake in Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 467 shares during the period. FIL Ltd lifted its holdings in shares of Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after buying an additional 579 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $101,000. Headlands Technologies LLC bought a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $116,000. Finally, KBC Group NV grew its stake in Kite Realty Group Trust by 38.4% during the fourth quarter. KBC Group NV now owns 8,210 shares of the real estate investment trust's stock valued at $207,000 after acquiring an additional 2,277 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on KRG shares. Wells Fargo & Company lowered their target price 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 target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Raymond James lowered their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 23rd. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Kite Realty Group Trust has a consensus rating of "Moderate Buy" and an average target price of $27.63.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG traded up $0.46 during mid-day trading on Thursday, reaching $22.30. 1,739,564 shares of the company were exchanged, compared to its average volume of 1,688,649. Kite Realty Group Trust has a 52 week low of $18.52 and a 52 week high of $28.24. The company's 50 day moving average price is $21.78 and its 200 day moving average price is $23.46. The stock has a market capitalization of $4.90 billion, a PE ratio of 1,114.75, a PEG 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 issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The business had revenue of $221.76 million for the quarter, compared to analysts' expectations of $211.07 million. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Sell-side analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is presently 1,542.86%.

Kite Realty Group Trust Company 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.