Kite Realty Group Trust $KRG Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC reduced its stake in Kite Realty Group Trust (NYSE:KRG) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 775,914 shares of the real estate investment trust’s stock after selling 67,162 shares during the quarter. Kennedy Capital Management LLC owned about 0.36% of Kite Realty Group Trust worth $17,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its holdings in Kite Realty Group Trust by 9.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 748,478 shares of the real estate investment trust’s stock valued at $16,691,000 after purchasing an additional 67,374 shares in the last quarter. UBS Group AG grew its holdings in shares of Kite Realty Group Trust by 24.7% during the third quarter. UBS Group AG now owns 700,976 shares of the real estate investment trust’s stock worth $15,632,000 after buying an additional 138,733 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Kite Realty Group Trust by 85.1% in the third quarter. BNP Paribas Financial Markets now owns 72,441 shares of the real estate investment trust’s stock valued at $1,615,000 after buying an additional 33,312 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Kite Realty Group Trust by 1.5% in the third quarter. Franklin Resources Inc. now owns 2,067,103 shares of the real estate investment trust’s stock valued at $46,096,000 after buying an additional 30,804 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in shares of Kite Realty Group Trust during the third quarter valued at approximately $78,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 1.9%

Shares of NYSE KRG traded down $0.49 during trading on Friday, hitting $24.86. 170,441 shares of the company traded hands, compared to its average volume of 1,911,718. The firm 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. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $24.59 and a 200-day moving average price of $23.33. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $26.38.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Thursday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 84.06%.

Analysts Set New Price Targets

A number of analysts recently issued reports on KRG shares. Citigroup restated a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Jefferies Financial Group reissued a “hold” rating and set a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Weiss Ratings upgraded Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Wall Street Zen raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, UBS Group reissued a “neutral” rating and issued a $25.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.