Kite Realty Group Trust (KRG) Position Reduced by Arizona State Retirement System

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Arizona State Retirement System lowered its position in shares of Kite Realty Group Trust (NYSE:KRG) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,752 shares of the real estate investment trust’s stock after selling 10,147 shares during the period. Arizona State Retirement System’s holdings in Kite Realty Group Trust were worth $2,080,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sheaff Brock Investment Advisors LLC lifted its position in Kite Realty Group Trust by 16.4% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 21,940 shares of the real estate investment trust’s stock valued at $375,000 after purchasing an additional 3,090 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Kite Realty Group Trust by 7.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 51,605 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 3,452 shares during the last quarter. Swiss National Bank lifted its position in Kite Realty Group Trust by 3.3% during the first quarter. Swiss National Bank now owns 145,600 shares of the real estate investment trust’s stock valued at $2,217,000 after purchasing an additional 4,700 shares during the last quarter. SG Americas Securities LLC lifted its position in Kite Realty Group Trust by 78.3% during the first quarter. SG Americas Securities LLC now owns 11,693 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 5,135 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Kite Realty Group Trust by 2.8% during the first quarter. Asset Management One Co. Ltd. now owns 205,383 shares of the real estate investment trust’s stock valued at $3,127,000 after purchasing an additional 5,506 shares during the last quarter. 91.29% of the stock is owned by institutional investors.

Several brokerages have issued reports on KRG. ValuEngine lowered shares of Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 27th. Citigroup lifted their target price on shares of Kite Realty Group Trust from $16.50 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, August 16th. Finally, Zacks Investment Research lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $18.17.

Shares of KRG opened at $17.48 on Friday. The company has a market capitalization of $1.46 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.84 and a quick ratio of 0.84. Kite Realty Group Trust has a fifty-two week low of $13.87 and a fifty-two week high of $20.79.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. The firm had revenue of $91.70 million during the quarter, compared to analyst estimates of $88.08 million. Kite Realty Group Trust had a negative net margin of 4.92% and a negative return on equity of 1.14%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS. equities research analysts expect that Kite Realty Group Trust will post 2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, October 5th will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.27%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, October 4th. Kite Realty Group Trust’s payout ratio is presently 62.25%.

Kite Realty Group Trust Profile

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.

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

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