Kite Realty Group Trust (KRG) Stake Reduced by Morgan Stanley

Morgan Stanley decreased its position in Kite Realty Group Trust (NYSE:KRG) by 32.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 749,302 shares of the real estate investment trust’s stock after selling 360,584 shares during the period. Morgan Stanley owned about 0.90% of Kite Realty Group Trust worth $16,110,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Glen Harbor Capital Management LLC boosted its position 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. Independent Portfolio Consultants Inc. boosted its position 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. Elkfork Partners LLC boosted its position in shares of Kite Realty Group Trust by 18.6% in the first quarter. Elkfork Partners LLC now owns 5,644 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 884 shares during the period. Daiwa Securities Group Inc. boosted its position 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. acquired a new position in shares of Kite Realty Group Trust during the first quarter valued at $154,000. 93.25% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust (NYSE KRG) traded up 3.17% during trading on Thursday, reaching $20.86. The company had a trading volume of 120,781 shares. The company’s market capitalization is $1.74 billion. Kite Realty Group Trust has a 52-week low of $17.60 and a 52-week high of $30.45. The stock has a 50 day moving average price of $18.96 and a 200-day moving average price of $20.85.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Kite Realty Group Trust had a net margin of 0.05% and a return on equity of 0.01%. The business had revenue of $92.65 million for the quarter, compared to analyst estimates of $88.42 million. During the same quarter last year, the firm earned $0.52 EPS. Kite Realty Group Trust’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that Kite Realty Group Trust will post ($0.05) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Thursday, July 6th were paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date was Monday, July 3rd.

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Several equities research analysts have commented on KRG shares. Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Friday, April 7th. Barclays PLC lowered their target price on 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. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.86.

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.

Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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