Kite Realty Group Trust (KRG) Stake Lowered by Fmr LLC

Fmr LLC lessened its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,023,386 shares of the real estate investment trust’s stock after selling 1,646,183 shares during the quarter. Fmr LLC owned approximately 6.01% of Kite Realty Group Trust worth $95,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of KRG. BlackRock Inc. boosted its stake in shares of Kite Realty Group Trust by 9,657.3% during the 1st quarter. BlackRock Inc. now owns 12,336,774 shares of the real estate investment trust’s stock worth $265,241,000 after acquiring an additional 12,210,338 shares during the last quarter. Cambiar Investors LLC purchased a new position in shares of Kite Realty Group Trust during the 2nd quarter worth $13,282,000. Macquarie Group Ltd. boosted its stake in shares of Kite Realty Group Trust by 39.4% during the 1st quarter. Macquarie Group Ltd. now owns 1,395,128 shares of the real estate investment trust’s stock worth $29,995,000 after acquiring an additional 394,143 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Kite Realty Group Trust by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 13,629,473 shares of the real estate investment trust’s stock worth $293,034,000 after acquiring an additional 346,198 shares during the last quarter. Finally, Investment Counselors of Maryland LLC boosted its stake in shares of Kite Realty Group Trust by 49.4% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 949,160 shares of the real estate investment trust’s stock worth $17,968,000 after acquiring an additional 313,900 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Kite Realty Group Trust (NYSE:KRG) opened at 20.19 on Wednesday. Kite Realty Group Trust has a 52 week low of $17.60 and a 52 week high of $26.68. The stock has a market cap of $1.69 billion, a PE ratio of 144.21 and a beta of 0.57. The stock’s 50 day moving average is $20.23 and its 200 day moving average is $19.91.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.03. Kite Realty Group Trust had a net margin of 3.29% and a return on equity of 0.73%. The firm had revenue of $92.65 million for the quarter, compared to the consensus estimate of $88.42 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that Kite Realty Group Trust will post ($0.05) EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, October 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 5.99%. The ex-dividend date of this dividend is Thursday, October 5th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 864.29%.

Several brokerages have recently weighed in on KRG. Zacks Investment Research cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of Kite Realty Group Trust in a research note on Friday, August 25th. Finally, Robert W. Baird reiterated a “buy” rating and set a $23.00 price target on shares of Kite Realty Group Trust in a research note on Thursday, August 24th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $25.33.

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Kite Realty Group Trust Profile

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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