Point72 Hong Kong Ltd Reduces Position in Kite Realty Group Trust (NYSE:KRG)

Point72 Hong Kong Ltd reduced its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 77.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,505 shares of the real estate investment trust's stock after selling 18,656 shares during the period. Point72 Hong Kong Ltd's holdings in Kite Realty Group Trust were worth $139,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KRG. Optiver Holding B.V. raised its position 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 purchasing an additional 467 shares in the last quarter. FIL Ltd raised 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 valued at $88,000 after acquiring an additional 579 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at about $101,000. Headlands Technologies LLC purchased a new stake in Kite Realty Group Trust in the fourth quarter worth about $116,000. Finally, KBC Group NV lifted its stake in Kite Realty Group Trust by 38.4% in the fourth quarter. KBC Group NV now owns 8,210 shares of the real estate investment trust's stock worth $207,000 after acquiring an additional 2,277 shares during the period. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Down 3.0%

KRG traded down $0.67 during trading on Wednesday, hitting $21.79. The stock had a trading volume of 1,422,833 shares, compared to its average volume of 2,079,128. The stock has a 50 day simple moving average of $21.82 and a two-hundred day simple moving average of $23.66. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24. The company has a market capitalization of $4.79 billion, a PE ratio of 1,089.40, a PEG ratio of 3.57 and a beta of 1.10.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate 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%. On average, research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The firm 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 $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 1,542.86%.

Analysts Set New Price Targets

KRG has been the subject of several recent research reports. Piper Sandler restated 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. Raymond James reduced their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research note on Monday, March 10th. Finally, Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of "Moderate Buy" and an average target price of $27.88.

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.