Kennedy Capital Management LLC Decreases Stock Holdings in Kite Realty Group Trust $KRG

Kennedy Capital Management LLC lowered its holdings in Kite Realty Group Trust (NYSE:KRG) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 775,914 shares of the real estate investment trust’s stock after selling 67,162 shares during the quarter. Kennedy Capital Management LLC’s holdings in Kite Realty Group Trust were worth $17,303,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares in the last quarter. First Horizon Corp purchased a new position in Kite Realty Group Trust in the third quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 740 shares in the last quarter. Smallwood Wealth Investment Management LLC lifted its stake in shares of Kite Realty Group Trust by 57.9% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 641 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Kite Realty Group Trust by 21.4% during the 3rd quarter. Versant Capital Management Inc now owns 3,085 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 544 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 1.9%

Shares of KRG stock traded down $0.49 during mid-day trading on Friday, reaching $24.86. 170,441 shares of the company were exchanged, compared to its average volume of 1,911,718. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74. The business’s 50 day simple moving average is $24.59 and its 200 day simple moving average is $23.33. The company has a market capitalization of $5.14 billion, a P/E ratio of 17.98, a P/E/G ratio of 4.70 and a beta of 0.86. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $26.38.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.7%. Kite Realty Group Trust’s payout ratio is presently 84.06%.

Wall Street Analysts Forecast Growth

KRG has been the subject of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Robert W. Baird raised their price target on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. UBS Group reiterated a “neutral” rating and issued a $25.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Finally, Weiss Ratings raised shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.