New Mexico Educational Retirement Board continued to hold its stake in Kite Realty Group Trust (NYSE:KRG) during the second quarter, Holdings Channel reports. The firm owned 11,861 shares of the real estate investment trust’s stock at the end of the second quarter. New Mexico Educational Retirement Board’s holdings in Kite Realty Group Trust were worth $244,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of KRG. Prudential Financial Inc. increased its stake in Kite Realty Group Trust by 13.6% in the first quarter. Prudential Financial Inc. now owns 283,371 shares of the real estate investment trust’s stock valued at $6,092,000 after buying an additional 33,870 shares in the last quarter. Teachers Advisors LLC increased its stake in Kite Realty Group Trust by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 137,455 shares of the real estate investment trust’s stock valued at $3,227,000 after buying an additional 4,343 shares in the last quarter. Principal Financial Group Inc. increased its stake in Kite Realty Group Trust by 415.9% in the first quarter. Principal Financial Group Inc. now owns 3,411,740 shares of the real estate investment trust’s stock valued at $73,352,000 after buying an additional 2,750,414 shares in the last quarter. ProShare Advisors LLC increased its stake in Kite Realty Group Trust by 144.7% in the first quarter. ProShare Advisors LLC now owns 91,032 shares of the real estate investment trust’s stock valued at $736,000 after buying an additional 53,834 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Kite Realty Group Trust by 3.8% in the first quarter. Envestnet Asset Management Inc. now owns 35,867 shares of the real estate investment trust’s stock valued at $773,000 after buying an additional 1,300 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.
Shares of Kite Realty Group Trust (NYSE KRG) opened at 19.94 on Friday. Kite Realty Group Trust has a one year low of $17.60 and a one year high of $29.62. The firm has a 50-day moving average of $19.86 and a 200-day moving average of $20.50. The company has a market capitalization of $1.67 billion, a P/E ratio of 142.43 and a beta of 0.57.
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, topping the Zacks’ consensus estimate of $0.51 by $0.03. The business had revenue of $92.65 million for the quarter, compared to the consensus estimate of $88.42 million. Kite Realty Group Trust had a net margin of 3.29% and a return on equity of 0.73%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. Equities research analysts expect that Kite Realty Group Trust will post ($0.05) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, October 6th will be given a dividend of $0.3025 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.21 dividend on an annualized basis and a yield of 6.07%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 864.29%.
KRG has been the subject of several recent analyst reports. BidaskClub raised shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Finally, ValuEngine downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company 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.
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