Kennedy Capital Management Inc. lowered its stake in Kite Realty Group Trust (NYSE:KRG) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 719,021 shares of the real estate investment trust’s stock after selling 45,865 shares during the period. Kennedy Capital Management Inc. owned 0.86% of Kite Realty Group Trust worth $15,459,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Glen Harbor Capital Management LLC increased its stake in shares of Kite Realty Group Trust by 18.6% in the first quarter. Glen Harbor Capital Management LLC now owns 4,648 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 728 shares during the period. Elkfork Partners LLC bought a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $112,000. Independent Portfolio Consultants Inc. increased its stake in shares of Kite Realty Group Trust by 25.7% in the first quarter. Independent Portfolio Consultants Inc. now owns 5,078 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,039 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Kite Realty Group Trust by 30.5% in the first quarter. Daiwa Securities Group Inc. now owns 6,425 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 1,500 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Kite Realty Group Trust during the first quarter valued at about $154,000. Hedge funds and other institutional investors own 93.34% of the company’s stock.
Shares of Kite Realty Group Trust (KRG) traded down 0.87% on Tuesday, hitting $18.14. 847,652 shares of the stock traded hands. The stock has a 50 day moving average price of $18.97 and a 200-day moving average price of $21.72. Kite Realty Group Trust has a 52 week low of $17.74 and a 52 week high of $30.45. The stock’s market cap is $1.52 billion.
Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. The company had revenue of $90.10 million for the quarter, compared to analysts’ expectations of $88.31 million. Kite Realty Group Trust had a net margin of 0.05% and a return on equity of 0.01%. Kite Realty Group Trust’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. On average, equities research analysts forecast that Kite Realty Group Trust will post ($0.05) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Thursday, July 6th will be issued a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Monday, July 3rd.
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Several brokerages have issued reports on KRG. ValuEngine downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Friday, April 28th. Barclays PLC lowered their target price on shares of Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Finally, Robert W. Baird raised shares of Kite Realty Group Trust from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $27.00 to $24.00 in a report on Monday, March 13th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $28.43.
In related news, CEO John A. Kite sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $21.51, for a total transaction of $537,750.00. Following the sale, the chief executive officer now owns 47,580 shares of the company’s stock, valued at approximately $1,023,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.87% of the company’s stock.
About Kite Realty Group Trust
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.
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