AlphaQuest LLC Trims Stake in Kite Realty Group Trust $KRG

AlphaQuest LLC reduced its position in shares of Kite Realty Group Trust (NYSE:KRG) by 85.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,214 shares of the real estate investment trust’s stock after selling 115,688 shares during the period. AlphaQuest LLC’s holdings in Kite Realty Group Trust were worth $435,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its position in shares of Kite Realty Group Trust by 0.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 328,207 shares of the real estate investment trust’s stock valued at $7,434,000 after purchasing an additional 2,634 shares in the last quarter. Bernzott Capital Advisors grew its position in shares of Kite Realty Group Trust by 1.5% during the 2nd quarter. Bernzott Capital Advisors now owns 248,476 shares of the real estate investment trust’s stock valued at $5,628,000 after purchasing an additional 3,641 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Kite Realty Group Trust by 3.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 51,927 shares of the real estate investment trust’s stock valued at $1,164,000 after purchasing an additional 1,791 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Kite Realty Group Trust during the 2nd quarter valued at $7,240,000. Finally, Bayforest Capital Ltd grew its position in shares of Kite Realty Group Trust by 221.1% during the 2nd quarter. Bayforest Capital Ltd now owns 32,484 shares of the real estate investment trust’s stock valued at $736,000 after purchasing an additional 22,366 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $22.23 on Thursday. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market capitalization of $4.89 billion, a P/E ratio of 28.14, a P/E/G ratio of 6.27 and a beta of 1.15. The company has a fifty day moving average of $22.40 and a 200-day moving average of $22.27.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be paid a $0.29 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, January 9th. Kite Realty Group Trust’s payout ratio is presently 136.71%.

Analyst Ratings Changes

KRG has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and set a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Wall Street Zen raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $25.00 in a report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kite Realty Group Trust in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and an average target price of $26.70.

Insiders Place Their Bets

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the completion of the sale, the chief executive officer directly owned 54,121 shares of the company’s stock, valued at $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.50% of the stock is owned by corporate insiders.

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.