Rhumbline Advisers raised its position in Kite Realty Group Trust (NYSE:KRG) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,908 shares of the real estate investment trust’s stock after acquiring an additional 2,769 shares during the period. Rhumbline Advisers owned about 0.22% of Kite Realty Group Trust worth $3,704,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of KRG. Sorin Capital Management LLC acquired a new position in Kite Realty Group Trust in the 2nd quarter valued at approximately $16,845,000. Macquarie Group Ltd. raised its holdings in Kite Realty Group Trust by 51.5% in the 2nd quarter. Macquarie Group Ltd. now owns 2,113,325 shares of the real estate investment trust’s stock valued at $40,006,000 after acquiring an additional 718,197 shares in the last quarter. Prudential PLC acquired a new position in Kite Realty Group Trust in the 2nd quarter valued at approximately $7,824,000. Timbercreek Asset Management Ltd. acquired a new position in shares of Kite Realty Group Trust in the 2nd quarter worth approximately $6,527,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Kite Realty Group Trust by 20.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,539,805 shares of the real estate investment trust’s stock worth $29,149,000 after buying an additional 266,113 shares in the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on KRG. ValuEngine raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Friday, October 6th. KeyCorp reissued a “hold” rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. Capital One Financial reissued an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Robert W. Baird reissued a “buy” rating and issued a $23.00 target price on shares of Kite Realty Group Trust in a report on Thursday, August 24th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Kite Realty Group Trust has an average rating of “Buy” and an average price target of $25.33.
Shares of Kite Realty Group Trust (NYSE:KRG) traded down $0.71 on Thursday, hitting $18.88. The stock had a trading volume of 751,900 shares, compared to its average volume of 739,200. Kite Realty Group Trust has a fifty-two week low of $17.60 and a fifty-two week high of $25.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $1,637.61, a PE ratio of 9.60, a PEG ratio of 2.05 and a beta of 0.62.
Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.49. The business had revenue of $87.10 million during the quarter, compared to analysts’ expectations of $88.16 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. Kite Realty Group Trust’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. analysts anticipate that Kite Realty Group Trust will post 2.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, January 5th will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, January 4th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.30. This represents a $1.27 dividend on an annualized basis and a yield of 6.73%. Kite Realty Group Trust’s dividend payout ratio is 806.67%.
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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