Kite Realty Group Trust (KRG) Shares Sold by Eagle Asset Management Inc.
Eagle Asset Management Inc. lowered its position in Kite Realty Group Trust (NYSE:KRG) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,623 shares of the company’s stock after selling 10,992 shares during the period. Eagle Asset Management Inc. owned about 0.72% of Kite Realty Group Trust worth $16,649,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KRG. Sanders Morris Harris Inc. raised its position in Kite Realty Group Trust by 1.6% in the second quarter. Sanders Morris Harris Inc. now owns 54,421 shares of the company’s stock worth $1,524,000 after buying an additional 835 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Kite Realty Group Trust by 48.2% in the second quarter. New York State Teachers Retirement System now owns 229,435 shares of the company’s stock worth $6,431,000 after buying an additional 74,600 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Kite Realty Group Trust during the second quarter worth $350,000. Independent Portfolio Consultants Inc. boosted its position in shares of Kite Realty Group Trust by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,594 shares of the company’s stock worth $157,000 after buying an additional 15 shares in the last quarter. Finally, GWM Advisors LLC bought a new position in shares of Kite Realty Group Trust during the second quarter worth $210,000. 92.01% of the stock is currently owned by hedge funds and other institutional investors.
Kite Realty Group Trust (NYSE:KRG) traded down 2.37% during trading on Wednesday, reaching $23.90. The company’s stock had a trading volume of 161,577 shares. The firm has a market cap of $2.00 billion, a P/E ratio of 796.67 and a beta of 0.75. The stock’s 50 day moving average is $25.09 and its 200-day moving average is $27.30. Kite Realty Group Trust has a 52 week low of $23.47 and a 52 week high of $30.45.
Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Thursday, October 27th. The company reported $0.52 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. Kite Realty Group Trust had a return on equity of 0.56% and a net margin of 2.67%. The firm earned $89.10 million during the quarter, compared to analyst estimates of $88.39 million. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Kite Realty Group Trust will post $2.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, January 6th will be issued a $0.3025 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.29. This represents a $1.21 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Wednesday, January 4th. Kite Realty Group Trust’s payout ratio is 2,875.72%.
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KRG has been the topic of a number of analyst reports. Zacks Investment Research cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th. BTIG Research initiated coverage on Kite Realty Group Trust in a research note on Thursday, August 25th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Hilliard Lyons raised Kite Realty Group Trust from a “neutral” rating to a “buy” rating in a research note on Monday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $32.00.
Kite Realty Group Trust Company Profile
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States.
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