Capstone Asset Management Co. lowered its stake in Kite Realty Group Trust (NYSE:KRG) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 16,509 shares of the real estate investment trust’s stock after selling 660 shares during the period. Capstone Asset Management Co.’s holdings in Kite Realty Group Trust were worth $313,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in KRG. Goldman Sachs Group Inc. increased its stake in shares of Kite Realty Group Trust by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 561,363 shares of the real estate investment trust’s stock valued at $12,069,000 after buying an additional 196,478 shares during the period. Lincluden Management Ltd. purchased a new position in shares of Kite Realty Group Trust during the first quarter worth about $1,569,000. Macquarie Group Ltd. boosted its position in shares of Kite Realty Group Trust by 39.4% in the first quarter. Macquarie Group Ltd. now owns 1,395,128 shares of the real estate investment trust’s stock worth $29,995,000 after buying an additional 394,143 shares in the last quarter. Paloma Partners Management Co boosted its position in shares of Kite Realty Group Trust by 95.0% in the first quarter. Paloma Partners Management Co now owns 21,195 shares of the real estate investment trust’s stock worth $456,000 after buying an additional 10,324 shares in the last quarter. Finally, Sii Investments Inc. WI boosted its position in shares of Kite Realty Group Trust by 4.7% in the first quarter. Sii Investments Inc. WI now owns 9,565 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 426 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

Shares of Kite Realty Group Trust (KRG) traded down 1.80% during midday trading on Friday, hitting $20.23. The stock had a trading volume of 609,440 shares. The stock has a market cap of $1.69 billion, a PE ratio of 144.50 and a beta of 0.57. The stock’s 50-day moving average is $19.67 and its 200-day moving average is $20.63. Kite Realty Group Trust has a 12 month low of $17.60 and a 12 month high of $29.62.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $92.65 million for the quarter, compared to the consensus estimate of $88.42 million. Kite Realty Group Trust had a return on equity of 0.73% and a net margin of 3.29%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. Equities analysts anticipate that Kite Realty Group Trust will post ($0.05) EPS for the current year.

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A number of brokerages recently issued reports on KRG. Barclays PLC cut their target price on Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Zacks Investment Research cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $26.86.

About Kite Realty Group Trust

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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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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