Arrowstreet Capital Limited Partnership Cuts Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Arrowstreet Capital Limited Partnership decreased its position in Kite Realty Group Trust (NYSE:KRG) by 98.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,382 shares of the real estate investment trust’s stock after selling 1,053,599 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Kite Realty Group Trust were worth $313,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Kite Realty Group Trust in the third quarter valued at approximately $39,000. Versant Capital Management Inc increased its holdings in shares of Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC purchased a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at about $101,000. GAMMA Investing LLC raised its stake in Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 652 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its holdings in shares of Kite Realty Group Trust by 19.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 1,210 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $20.47 on Monday. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 1,023.40, a PEG ratio of 3.57 and a beta of 1.05. The stock has a 50-day moving average of $22.13 and a 200 day moving average of $24.37. Kite Realty Group Trust has a one year low of $18.52 and a one year high of $28.24. 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 (NYSE:KRG) last announced its 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 return on equity of 0.12% and a net margin of 0.48%. On average, sell-side analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is 5,400.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KRG shares. Raymond James cut their target price on 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. Wells Fargo & Company lowered their price target on 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. 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 company from $31.00 to $27.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price target on 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, Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.88.

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.