Voloridge Investment Management LLC Buys 178,291 Shares of Kite Realty Group Trust (NYSE:KRG)

Voloridge Investment Management LLC lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 260.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,773 shares of the real estate investment trust's stock after buying an additional 178,291 shares during the period. Voloridge Investment Management LLC owned approximately 0.11% of Kite Realty Group Trust worth $6,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KRG. Optiver Holding B.V. grew 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 valued at $71,000 after acquiring an additional 467 shares in the last quarter. FIL Ltd raised its position in Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 579 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new position in Kite Realty Group Trust during the fourth quarter worth about $101,000. Headlands Technologies LLC acquired a new position in Kite Realty Group Trust during the fourth quarter worth about $116,000. Finally, KBC Group NV grew its holdings in shares of 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 worth $207,000 after buying an additional 2,277 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KRG has been the subject of a number of research analyst reports. Raymond James dropped 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, May 23rd. Wells Fargo & Company cut 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 report on Wednesday, March 26th. Finally, Piper Sandler reissued a "neutral" rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and an average target price of $27.63.

Kite Realty Group Trust Stock Down 0.7%

KRG stock traded down $0.16 during midday trading on Friday, hitting $22.14. The company's stock had a trading volume of 155,773 shares, compared to its average volume of 1,682,612. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. Kite Realty Group Trust has a twelve month low of $18.52 and a twelve month high of $28.24. The company's fifty day moving average price is $21.78 and its 200 day moving average price is $23.46. The stock has a market capitalization of $4.87 billion, a P/E ratio of 1,108.15, a PEG ratio of 3.57 and a beta of 1.10.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The business had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. As a group, equities research analysts predict 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 Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is presently 1,542.86%.

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.