Sii Investments Inc. WI increased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 4.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,565 shares of the real estate investment trust’s stock after buying an additional 426 shares during the period. Sii Investments Inc. WI’s holdings in Kite Realty Group Trust were worth $207,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in Kite Realty Group Trust during the fourth quarter valued at $389,000. Comerica Bank boosted its position in Kite Realty Group Trust by 2.8% in the fourth quarter. Comerica Bank now owns 136,793 shares of the real estate investment trust’s stock valued at $3,256,000 after buying an additional 3,741 shares during the last quarter. State Street Corp boosted its position in Kite Realty Group Trust by 3.5% in the fourth quarter. State Street Corp now owns 3,149,498 shares of the real estate investment trust’s stock valued at $73,952,000 after buying an additional 106,218 shares during the last quarter. Elkfork Partners LLC bought a new position in Kite Realty Group Trust during the fourth quarter valued at $112,000. Finally, Credit Agricole S A boosted its position in Kite Realty Group Trust by 37.8% in the fourth quarter. Credit Agricole S A now owns 50,978 shares of the real estate investment trust’s stock valued at $1,197,000 after buying an additional 13,991 shares during the last quarter. 93.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Kite Realty Group Trust (NYSE KRG) traded down 2.76% during mid-day trading on Monday, reaching $18.30. 634,716 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $19.03 and its 200-day moving average price is $21.80. The company’s market capitalization is $1.53 billion. Kite Realty Group Trust has a one year low of $17.74 and a one year high of $30.45.
Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Kite Realty Group Trust had a net margin of 0.05% and a return on equity of 0.01%. The firm had revenue of $90.10 million for the quarter, compared to analysts’ expectations of $88.31 million. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts expect that Kite Realty Group Trust will post ($0.05) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Thursday, July 6th will be paid a dividend of $0.3025 per share. The ex-dividend date of this dividend is Monday, July 3rd. This represents a $1.21 annualized dividend and a yield of 6.61%.
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KRG has been the subject of several research reports. Robert W. Baird raised shares of Kite Realty Group Trust from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $27.00 to $24.00 in a report on Monday, March 13th. Zacks Investment Research raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th. Barclays PLC reduced their target price on shares of Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Finally, ValuEngine cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $28.43.
In other Kite Realty Group Trust news, CEO John A. Kite sold 25,000 shares of Kite Realty Group Trust stock in a transaction on Friday, March 31st. The shares were sold at an average price of $21.51, for a total transaction of $537,750.00. Following the sale, the chief executive officer now owns 47,580 shares of the company’s stock, valued at approximately $1,023,445.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.87% of the company’s stock.
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., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.
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