Morgan Stanley grew its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 167.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 433,760 shares of the real estate investment trust’s stock after buying an additional 271,352 shares during the period. Morgan Stanley owned 0.52% of Kite Realty Group Trust worth $6,563,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in KRG. Advisory Services Network LLC bought a new stake in shares of Kite Realty Group Trust during the 2nd quarter valued at $31,000. Weaver Consulting Group bought a new stake in shares of Kite Realty Group Trust during the 2nd quarter valued at $49,000. Tower Research Capital LLC TRC raised its position in shares of Kite Realty Group Trust by 227.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,132 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 4,257 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Kite Realty Group Trust in the 2nd quarter worth about $106,000. Finally, Quantamental Technologies LLC raised its position in shares of Kite Realty Group Trust by 5,386.4% in the 2nd quarter. Quantamental Technologies LLC now owns 9,272 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 9,103 shares during the last quarter. Hedge funds and other institutional investors own 90.21% of the company’s stock.
In other Kite Realty Group Trust news, CEO John A. Kite sold 17,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $15.85, for a total value of $269,450.00. Following the completion of the transaction, the chief executive officer now owns 30,610 shares of the company’s stock, valued at approximately $485,168.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.07% of the stock is currently owned by insiders.
Several research firms have recently issued reports on KRG. Compass Point raised Kite Realty Group Trust from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $13.50 to $14.50 in a research report on Wednesday, September 4th. DA Davidson reaffirmed a “neutral” rating on shares of Kite Realty Group Trust in a research report on Monday, July 29th. Barclays set a $16.00 price target on Kite Realty Group Trust and gave the stock a “hold” rating in a research report on Friday, October 11th. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Finally, ValuEngine raised Kite Realty Group Trust from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Kite Realty Group Trust presently has a consensus rating of “Hold” and a consensus price target of $15.88.
Shares of NYSE:KRG opened at $16.65 on Friday. Kite Realty Group Trust has a fifty-two week low of $13.66 and a fifty-two week high of $17.20. The business has a 50-day simple moving average of $15.77 and a two-hundred day simple moving average of $15.62. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 2.06 and a beta of 0.84.
Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.43 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.43. Kite Realty Group Trust had a negative return on equity of 1.66% and a negative net margin of 6.92%. The business had revenue of $81.48 million during the quarter, compared to analyst estimates of $79.95 million. During the same quarter in the previous year, the firm earned $0.53 EPS. Kite Realty Group Trust’s revenue was down 11.2% on a year-over-year basis. As a group, research analysts predict that Kite Realty Group Trust will post 1.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date was Thursday, September 19th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 63.50%.
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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