Rhumbline Advisers increased its position in Kite Realty Group Trust (NYSE:KRG) by 19.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,512 shares of the real estate investment trust’s stock after acquiring an additional 42,134 shares during the quarter. Rhumbline Advisers’ holdings in Kite Realty Group Trust were worth $3,614,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in Kite Realty Group Trust by 6.2% in the fourth quarter. Arizona State Retirement System now owns 128,920 shares of the real estate investment trust’s stock worth $1,816,000 after buying an additional 7,547 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Kite Realty Group Trust during the fourth quarter worth $84,000. Sheaff Brock Investment Advisors LLC lifted its position in shares of Kite Realty Group Trust by 50.4% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 34,562 shares of the real estate investment trust’s stock worth $487,000 after purchasing an additional 11,586 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Kite Realty Group Trust by 5.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,967 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Kite Realty Group Trust by 5.9% during the fourth quarter. Strs Ohio now owns 143,655 shares of the real estate investment trust’s stock worth $2,024,000 after purchasing an additional 7,947 shares during the last quarter. 92.71% of the stock is owned by institutional investors.
Several analysts have recently weighed in on the company. Capital One Financial reiterated an “overweight” rating on shares of Kite Realty Group Trust in a research report on Wednesday, February 20th. Citigroup decreased their target price on Kite Realty Group Trust from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, November 29th. Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Raymond James downgraded Kite Realty Group Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Barclays downgraded Kite Realty Group Trust from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $15.00 to $16.00 in a research report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $16.13.
NYSE:KRG opened at $15.74 on Friday. Kite Realty Group Trust has a twelve month low of $13.66 and a twelve month high of $17.75. The firm has a market cap of $1.34 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.86. The company has a quick ratio of 0.89, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.
Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, February 19th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. Kite Realty Group Trust had a negative return on equity of 3.15% and a negative net margin of 13.15%. The business had revenue of $86.90 million during the quarter, compared to the consensus estimate of $85.31 million. During the same period last year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Kite Realty Group Trust will post 1.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 22nd will be paid a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.27 annualized dividend and a dividend yield of 8.07%. Kite Realty Group Trust’s dividend payout ratio is currently 63.50%.
In other news, CFO R Fear Heath purchased 7,500 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were purchased at an average price of $15.79 per share, for a total transaction of $118,425.00. Following the completion of the purchase, the chief financial officer now owns 78,883 shares in the company, valued at approximately $1,245,562.57. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John A. Kite sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $16.21, for a total value of $194,520.00. Following the transaction, the chief executive officer now owns 47,088 shares in the company, valued at approximately $763,296.48. The disclosure for this sale can be found here. Company insiders own 1.93% of the company’s stock.
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About Kite Realty Group Trust
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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