Hudson Bay Capital Management LP Sells 336,654 Shares of Kite Realty Group Trust (NYSE:KRG)

Hudson Bay Capital Management LP lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,141,876 shares of the real estate investment trust’s stock after selling 336,654 shares during the period. Hudson Bay Capital Management LP owned approximately 0.52% of Kite Realty Group Trust worth $28,821,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in Kite Realty Group Trust during the 4th quarter valued at $1,180,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $94,039,000 after purchasing an additional 73,926 shares during the period. Raymond James Financial Inc. purchased a new stake in Kite Realty Group Trust during the 4th quarter worth about $19,632,000. New York State Common Retirement Fund lifted its holdings 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 bought a new position in Kite Realty Group Trust in the 4th quarter worth about $31,663,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KRG shares. Raymond James decreased their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 10th. 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. JPMorgan Chase & Co. reduced their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, 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. Five 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 stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $22.45 on Friday. The company has a market capitalization of $4.93 billion, a P/E ratio of 1,122.50, a P/E/G ratio of 3.57 and a beta of 1.10. 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 52-week low of $18.52 and a 52-week high of $28.24. The company has a fifty day moving average of $21.73 and a 200-day moving average of $23.80.

Kite Realty Group Trust (NYSE:KRG) 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, topping 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%. As a group, equities research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) 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.