BlackRock Inc. grew its stake in Kite Realty Group Trust (NYSE:KRG) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,408,782 shares of the real estate investment trust’s stock after purchasing an additional 799,164 shares during the quarter. BlackRock Inc. owned approximately 17.22% of Kite Realty Group Trust worth $246,103,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Bridgeworth LLC bought a new position in shares of Kite Realty Group Trust in the first quarter valued at approximately $171,000. SG Americas Securities LLC lifted its holdings in shares of Kite Realty Group Trust by 78.3% in the first quarter. SG Americas Securities LLC now owns 11,693 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 5,135 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Kite Realty Group Trust in the second quarter valued at approximately $212,000. Element Capital Management LLC bought a new position in shares of Kite Realty Group Trust in the first quarter valued at approximately $240,000. Finally, Verition Fund Management LLC bought a new position in shares of Kite Realty Group Trust in the first quarter valued at approximately $273,000. Institutional investors own 91.28% of the company’s stock.
Kite Realty Group Trust stock traded down $0.23 during mid-day trading on Friday, reaching $15.09. 458,890 shares of the company’s stock were exchanged, compared to its average volume of 683,840. The firm has a market capitalization of $1.39 billion, a P/E ratio of 7.40, a price-to-earnings-growth ratio of 1.93 and a beta of 0.58. Kite Realty Group Trust has a one year low of $13.87 and a one year high of $20.71. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.04.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, October 5th were given a $0.3175 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a yield of 8.42%. The ex-dividend date was Thursday, October 4th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 62.25%.
In other Kite Realty Group Trust news, CEO John A. Kite sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $17.42, for a total value of $609,700.00. Following the completion of the sale, the chief executive officer now directly owns 68,588 shares of the company’s stock, valued at $1,194,802.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.93% of the company’s stock.
A number of analysts recently commented on KRG shares. ValuEngine lowered Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 27th. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Finally, Citigroup lifted their price target on Kite Realty Group Trust from $16.50 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Kite Realty Group Trust has an average rating of “Hold” and a consensus price target of $18.17.
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 open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
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