Centersquare Investment Management LLC cut its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 26.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,041 shares of the real estate investment trust’s stock after selling 164,044 shares during the period. Centersquare Investment Management LLC owned 0.56% of Kite Realty Group Trust worth $7,051,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System lifted its position in Kite Realty Group Trust by 0.7% in the second quarter. Arizona State Retirement System now owns 130,204 shares of the real estate investment trust’s stock valued at $1,970,000 after purchasing an additional 896 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of Kite Realty Group Trust during the first quarter valued at approximately $174,000. Weaver Consulting Group bought a new position in shares of Kite Realty Group Trust during the second quarter valued at approximately $49,000. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Kite Realty Group Trust by 5.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 36,578 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 2,016 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Kite Realty Group Trust by 0.9% during the first quarter. Rhumbline Advisers now owns 258,906 shares of the real estate investment trust’s stock valued at $4,140,000 after acquiring an additional 2,394 shares in the last quarter. Hedge funds and other institutional investors own 89.88% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Friday, June 14th. Citigroup set a $16.00 price objective on Kite Realty Group Trust and gave the stock a “hold” rating in a report on Monday, May 20th. ValuEngine upgraded Kite Realty Group Trust from a “strong sell” rating to a “sell” rating in a report on Wednesday. DA Davidson reiterated a “neutral” rating on shares of Kite Realty Group Trust in a report on Monday, July 29th. Finally, Compass Point upgraded Kite Realty Group Trust from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $13.50 to $14.50 in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Kite Realty Group Trust has an average rating of “Hold” and a consensus target price of $15.88.
Shares of Kite Realty Group Trust stock traded up $0.06 during trading on Friday, hitting $15.98. 18,946 shares of the company’s stock traded hands, compared to its average volume of 354,403. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.32 and a quick ratio of 1.32. Kite Realty Group Trust has a 1 year low of $13.66 and a 1 year high of $17.20. The stock has a market capitalization of $1.34 billion, a P/E ratio of 7.99, a PEG ratio of 1.92 and a beta of 0.83. The business has a 50-day simple moving average of $15.06 and a 200-day simple moving average of $15.53.
Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $81.48 million for the quarter, compared to analysts’ expectations of $79.95 million. Kite Realty Group Trust had a negative return on equity of 1.66% and a negative net margin of 6.92%. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. On average, equities analysts predict that Kite Realty Group Trust will post 1.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be given a $0.317 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.27 annualized dividend and a yield of 7.93%. Kite Realty Group Trust’s payout ratio is 63.50%.
Kite Realty Group Trust Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.
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