Kite Realty Group Trust $KRG Stock: Ethic Inc. Increases Holdings

Ethic Inc. lifted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 123.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,762 shares of the real estate investment trust’s stock after buying an additional 26,922 shares during the period. Ethic Inc.’s holdings in Kite Realty Group Trust were worth $1,189,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Kite Realty Group Trust by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,200,466 shares of the real estate investment trust’s stock valued at $78,572,000 after buying an additional 10,289 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Kite Realty Group Trust in the second quarter valued at $44,463,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Kite Realty Group Trust by 499.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,251,733 shares of the real estate investment trust’s stock worth $30,730,000 after purchasing an additional 1,043,075 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Kite Realty Group Trust by 52.5% during the 1st quarter. Principal Financial Group Inc. now owns 715,319 shares of the real estate investment trust’s stock worth $17,561,000 after purchasing an additional 246,285 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Kite Realty Group Trust by 38.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 500,000 shares of the real estate investment trust’s stock worth $12,195,000 after purchasing an additional 140,000 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $25.58 on Friday. Kite Realty Group Trust has a 12-month low of $21.89 and a 12-month high of $29.92. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 4.66 and a beta of 0.90. The company’s 50-day moving average is $25.00 and its two-hundred day moving average is $26.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.02.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Friday, October 30th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.15). Kite Realty Group Trust had a return on equity of 11.78% and a net margin of 42.95%. The company had revenue of $190.28 million for the quarter, compared to analyst estimates of $195.62 million. Research analysts expect that Kite Realty Group Trust will post 2.10 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Saturday, January 9th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, January 8th. This represents a $1.16 annualized dividend and a dividend yield of 4.5%. Kite Realty Group Trust’s dividend payout ratio is currently 71.60%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KRG shares. Bank of America downgraded shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating and cut their price target for the company from $31.00 to $28.00 in a report on Friday. Ladenburg Thalmann & Co. Inc. boosted their price objective on shares of Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company set a $27.00 target price on shares of Kite Realty Group Trust and gave the stock an “overweight” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. cut shares of Kite Realty Group Trust from a “neutral” rating to an “underweight” rating and set a $27.00 target price for the company. in a report on Thursday, September 24th. Finally, National Bank Financial set a $28.00 target price on shares of Kite Realty Group Trust in a report on Friday. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.91.

Insider Activity at Kite Realty Group Trust

In other news, CEO John Kite sold 34,492 shares of the stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $25.81, for a total value of $890,238.52. Following the completion of the transaction, the chief executive officer owned 19,629 shares of the company’s stock, valued at approximately $506,624.49. This represents a 63.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Kite Realty Group Trust Profile

Kite Realty Group Trust is a real estate investment trust that owns, operates, and develops open-air shopping centers and mixed-use properties. Its portfolio includes neighborhood and community centers, many of which are anchored by grocery stores and other essential retailers. The company leases space to retailers and service businesses and works to manage, maintain, and redevelop its properties. Its centers serve communities in Sun Belt markets and other selected regions across the United States.