Great West Life Assurance Co. Can boosted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,299 shares of the real estate investment trust’s stock after buying an additional 6,007 shares during the quarter. Great West Life Assurance Co. Can owned 0.19% of Kite Realty Group Trust worth $2,380,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Deutsche Bank AG boosted its stake in Kite Realty Group Trust by 8.5% during the fourth quarter. Deutsche Bank AG now owns 371,867 shares of the real estate investment trust’s stock valued at $7,284,000 after buying an additional 29,073 shares in the last quarter. Cbre Clarion Securities LLC bought a new position in Kite Realty Group Trust during the fourth quarter valued at about $19,634,000. Raymond James Financial Services Advisors Inc. boosted its stake in Kite Realty Group Trust by 41.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 51,682 shares of the real estate investment trust’s stock valued at $1,013,000 after buying an additional 15,190 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Kite Realty Group Trust during the fourth quarter valued at about $561,000. Finally, MetLife Investment Advisors LLC bought a new position in Kite Realty Group Trust during the fourth quarter valued at about $764,000. 93.77% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on KRG shares. Robert W. Baird reaffirmed a “buy” rating and set a $19.00 target price on shares of Kite Realty Group Trust in a research note on Wednesday, March 21st. Barclays reiterated a “buy” rating and issued a $20.00 price target on shares of Kite Realty Group Trust in a research report on Thursday, March 8th. TheStreet lowered Kite Realty Group Trust from a “c” rating to a “d+” rating in a research report on Wednesday, April 25th. Sandler O’Neill set a $15.00 price target on Kite Realty Group Trust and gave the company a “hold” rating in a research report on Tuesday, April 24th. Finally, ValuEngine lowered Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.57.
Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Kite Realty Group Trust had a negative return on equity of 0.38% and a negative net margin of 1.69%. The business had revenue of $89.76 million during the quarter, compared to analyst estimates of $88.38 million. During the same quarter last year, the company posted $0.51 EPS. Kite Realty Group Trust’s revenue for the quarter was down .4% on a year-over-year basis. research analysts expect that Kite Realty Group Trust will post 2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, July 6th will be given a dividend of $0.317 per share. The ex-dividend date is Thursday, July 5th. This represents a $1.27 dividend on an annualized basis and a yield of 7.74%. Kite Realty Group Trust’s payout ratio is presently 62.25%.
Kite Realty Group Trust Company Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.
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