Kite Realty Group Trust (KRG) Stake Cut by Credit Suisse AG

Credit Suisse AG lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 323,493 shares of the real estate investment trust’s stock after selling 41,524 shares during the period. Credit Suisse AG owned approximately 0.39% of Kite Realty Group Trust worth $6,955,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KRG. Russell Investments Group Ltd. acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $389,000. GSA Capital Partners LLP boosted its stake in shares of Kite Realty Group Trust by 166.7% in the fourth quarter. GSA Capital Partners LLP now owns 19,574 shares of the real estate investment trust’s stock valued at $460,000 after buying an additional 12,235 shares in the last quarter. Numeric Investors LLC acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $258,000. Norges Bank purchased a new stake in Kite Realty Group Trust during the fourth quarter worth $19,496,000. Finally, HighPoint Advisor Group LLC raised its stake in Kite Realty Group Trust by 2.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 13,528 shares of the real estate investment trust’s stock worth $301,000 after buying an additional 292 shares during the period. 93.25% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust (NYSE KRG) opened at 20.28 on Friday. The firm’s market capitalization is $1.69 billion. Kite Realty Group Trust has a 12-month low of $17.60 and a 12-month high of $30.37. The firm has a 50-day moving average of $19.10 and a 200 day moving average of $20.83.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The company 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 firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, equities analysts predict that Kite Realty Group Trust will post ($0.05) EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Thursday, July 6th were given a dividend of $0.3025 per share. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $1.21 dividend on an annualized basis and a yield of 5.97%. Kite Realty Group Trust’s payout ratio is currently 864.29%.

A number of analysts recently weighed in on KRG shares. Barclays PLC reduced their price objective on shares of Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. BidaskClub upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, ValuEngine downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Kite Realty Group Trust currently has an average rating of “Buy” and a consensus price target of $26.86.

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.