Kite Realty Group Trust (NYSE:KRG) Sees Large Volume Increase

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Kite Realty Group Trust (NYSE:KRG) saw strong trading volume on Monday . 1,242,400 shares traded hands during mid-day trading, an increase of 152% from the previous session’s volume of 493,749 shares.The stock last traded at $19.40 and had previously closed at $19.35.

Several research analysts recently commented on the company. Barclays set a $16.00 target price on Kite Realty Group Trust and gave the stock a “hold” rating in a research note on Friday, October 11th. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. ValuEngine cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Tuesday. Sandler O’Neill raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Compass Point lowered shares of Kite Realty Group Trust from a “neutral” rating to a “sell” rating and set a $18.00 target price on the stock. in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Kite Realty Group Trust has a consensus rating of “Hold” and a consensus target price of $17.00.

The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.17 and a current ratio of 1.17. The company’s 50-day moving average price is $18.16 and its 200-day moving average price is $16.15. The firm has a market capitalization of $1.62 billion, a PE ratio of 9.69 and a beta of 0.85.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Kite Realty Group Trust had a negative net margin of 14.39% and a negative return on equity of 3.45%. The business had revenue of $74.94 million during the quarter, compared to analysts’ expectations of $76.16 million. During the same period last year, the company earned $0.48 EPS. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. As a group, analysts anticipate that Kite Realty Group Trust will post 1.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be given a dividend of $0.317 per share. The ex-dividend date is Thursday, December 19th. This represents a $1.27 annualized dividend and a dividend yield of 6.54%. Kite Realty Group Trust’s dividend payout ratio is currently 63.50%.

In other news, CEO John A. Kite sold 17,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were 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 in the company, valued at approximately $485,168.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John A. Kite sold 12,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $18.78, for a total transaction of $234,750.00. Following the completion of the transaction, the chief executive officer now owns 26,110 shares of the company’s stock, valued at approximately $490,345.80. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

A number of large investors have recently made changes to their positions in KRG. Advisory Services Network LLC purchased a new stake in Kite Realty Group Trust in the second quarter valued at $31,000. Weaver Consulting Group purchased a new position in shares of Kite Realty Group Trust during the second quarter worth about $49,000. HM Payson & Co. purchased a new position in shares of Kite Realty Group Trust during the second quarter worth about $50,000. Tower Research Capital LLC TRC grew its holdings in shares of Kite Realty Group Trust by 227.0% during the second 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. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth about $106,000. Hedge funds and other institutional investors own 91.26% of the company’s stock.

About Kite Realty Group Trust (NYSE:KRG)

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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