Kennedy Capital Management LLC Sells 31,229 Shares of Kite Realty Group Trust (NYSE:KRG)

Kennedy Capital Management LLC lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 871,179 shares of the real estate investment trust’s stock after selling 31,229 shares during the period. Kite Realty Group Trust makes up about 0.5% of Kennedy Capital Management LLC’s portfolio, making the stock its 29th largest holding. Kennedy Capital Management LLC’s holdings in Kite Realty Group Trust were worth $21,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Kite Realty Group Trust during the 4th quarter worth approximately $1,180,000. Charles Schwab Investment Management Inc. increased its position in Kite Realty Group Trust by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock worth $94,039,000 after purchasing an additional 73,926 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Kite Realty Group Trust during the 4th quarter worth approximately $19,632,000. New York State Common Retirement Fund increased its position in Kite Realty Group Trust by 18.6% during the 4th quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust’s stock worth $2,741,000 after purchasing an additional 17,015 shares in the last quarter. Finally, Aew Capital Management L P acquired a new position in Kite Realty Group Trust during the 4th quarter worth approximately $31,663,000. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on KRG shares. Wells Fargo & Company decreased their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Raymond James decreased 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 report on Monday, March 10th. Piper Sandler reiterated a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, two have assigned 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.88.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $20.63 on Thursday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 1,031.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The company has a fifty day moving average of $22.23 and a 200-day moving average of $24.47. Kite Realty Group Trust has a 52-week low of $18.52 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Equities research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is 5,400.00%.

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.