LDR Capital Management LLC Sells 38,809 Shares of Kite Realty Group Trust (NYSE:KRG)

LDR Capital Management LLC trimmed its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 22.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,208 shares of the real estate investment trust's stock after selling 38,809 shares during the quarter. Kite Realty Group Trust comprises approximately 3.9% of LDR Capital Management LLC's portfolio, making the stock its 5th biggest position. LDR Capital Management LLC owned approximately 0.06% of Kite Realty Group Trust worth $3,485,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in KRG. Quadrature Capital Ltd purchased a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $314,000. Los Angeles Capital Management LLC acquired a new position in Kite Realty Group Trust during the first quarter worth approximately $524,000. State of Michigan Retirement System lifted its stake in Kite Realty Group Trust by 2.5% in the first quarter. State of Michigan Retirement System now owns 53,895 shares of the real estate investment trust's stock valued at $1,168,000 after buying an additional 1,300 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Kite Realty Group Trust by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust's stock valued at $2,745,000 after acquiring an additional 649 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Kite Realty Group Trust by 15.8% in the first quarter. Principal Financial Group Inc. now owns 948,658 shares of the real estate investment trust's stock valued at $20,567,000 after acquiring an additional 129,510 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KRG has been the subject of several research reports. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Raymond James raised Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 price target on the stock in a report on Friday, August 16th. Compass Point upped their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Robert W. Baird lifted their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Finally, KeyCorp increased their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Kite Realty Group Trust has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 37,295 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now owns 732,252 shares of the company's stock, valued at $19,624,353.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock traded up $0.23 during midday trading on Tuesday, reaching $26.13. The company's stock had a trading volume of 1,258,550 shares, compared to its average volume of 1,592,653. The firm has a market capitalization of $5.74 billion, a PE ratio of 99.58, a P/E/G ratio of 3.93 and a beta of 1.29. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15. The stock's 50 day simple moving average is $25.93 and its 200 day simple moving average is $23.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 3.98%. This is an increase from Kite Realty Group Trust's previous quarterly dividend of $0.25. Kite Realty Group Trust's payout ratio is currently 400.00%.

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.