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Is Kite Realty Group Trust (KRG) A Good Stock To Buy?

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Billionaire hedge fund managers such as Steve Cohen and Stan Druckenmiller can generate millions or even billions of dollars every year by pinning down high-potential small-cap stocks and pouring cash into these candidates. Small-cap stocks are overlooked by most investors, brokerage houses, and financial services hubs, while the unlimited research abilities of the big players within the hedge fund industry can easily identify the undervalued and high-potential stocks that reside the ignored corners of equity markets. There are numerous small-cap stocks that have turned out to be great winners, which is one of the main reasons the Insider Monkey team pays close attention to the hedge fund activity in relation to these stocks.

Kite Realty Group Trust (NYSE:KRG) has seen a decrease in support from the world’s most successful money managers recently. There were 13 hedge funds in our database with KRG holdings at the end of the previous quarter. At the end of this article we will also compare KRG to other stocks including Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD), AVX Corporation (NYSE:AVX), and Amkor Technology, Inc. (NASDAQ:AMKR) to get a better sense of its popularity.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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Now, let’s analyze the latest action regarding Kite Realty Group Trust (NYSE:KRG).

What does the smart money think about Kite Realty Group Trust (NYSE:KRG)?

At Q3’s end, a total of 9 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -31% from the second quarter of 2016. By comparison, 9 hedge funds held shares or bullish call options in KRG heading into this year. With hedgies’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).

HedgeFund

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Millennium Management, one of the biggest hedge funds in the world, has the largest position in Kite Realty Group Trust (NYSE:KRG), worth close to $7.5 million, corresponding to less than 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital, with a $5.6 million position; less than 0.1% of its 13F portfolio is allocated to the company. Other professional money managers that are bullish encompass Jim Simons’ Renaissance Technologies, Ken Griffin’s Citadel Investment Group and Dmitry Balyasny’s Balyasny Asset Management. We should note that none of these elite funds are among our list of the 100 best performing elite funds which is based on the performance of their 13F long positions in non-microcap stocks.

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