The Prudential Financial Inc. Purchases 4,860 Shares of Kite Realty Group Trust (KRG)

The Prudential Financial Inc. Purchases 4,860 Shares of Kite Realty Group Trust (KRG)

Prudential Financial Inc. boosted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 205,261 shares of the company’s stock after buying an additional 4,860 shares during the period. Prudential Financial Inc. owned approximately 0.25% of Kite Realty Group Trust worth $5,753,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hancock Holding Co. purchased a new position in Kite Realty Group Trust during the second quarter worth $270,000. Dimensional Fund Advisors LP increased its position in Kite Realty Group Trust by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,111,307 shares of the company’s stock worth $31,150,000 after buying an additional 9,383 shares in the last quarter. Teacher Retirement System of Texas increased its position in Kite Realty Group Trust by 14.8% in the second quarter. Teacher Retirement System of Texas now owns 11,744 shares of the company’s stock worth $329,000 after buying an additional 1,510 shares in the last quarter. Victory Capital Management Inc. increased its position in Kite Realty Group Trust by 8.7% in the second quarter. Victory Capital Management Inc. now owns 1,180,596 shares of the company’s stock worth $33,092,000 after buying an additional 94,497 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Kite Realty Group Trust by 5.3% in the second quarter. UBS Asset Management Americas Inc. now owns 129,990 shares of the company’s stock worth $3,644,000 after buying an additional 6,566 shares in the last quarter. 91.15% of the stock is currently owned by institutional investors.

Kite Realty Group Trust (NYSE:KRG) opened at 25.99 on Wednesday. The stock has a market cap of $2.17 billion, a PE ratio of 519.80 and a beta of 0.80. The firm’s 50-day moving average price is $27.97 and its 200 day moving average price is $27.94. Kite Realty Group Trust has a 12-month low of $23.75 and a 12-month high of $30.45.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business earned $87.58 million during the quarter, compared to analyst estimates of $87.30 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.88%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. Analysts anticipate that Kite Realty Group Trust will post $2.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Thursday, October 6th will be given a $0.2875 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.42%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 1,916.99%.

A number of research firms have weighed in on KRG. BTIG Research began coverage on Kite Realty Group Trust in a report on Thursday, August 25th. They issued a “buy” rating and a $35.00 target price on the stock. Zacks Investment Research downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Hilliard Lyons downgraded Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a report on Monday, August 1st. Finally, Barclays PLC began coverage on Kite Realty Group Trust in a report on Friday, July 22nd. They issued an “overweight” rating and a $33.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Kite Realty Group Trust presently has a consensus rating of “Buy” and an average price target of $32.00.

In other news, CAO Thomas R. Olinger sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $30.22, for a total value of $166,210.00. Following the completion of the sale, the chief accounting officer now directly owns 11,540 shares in the company, valued at $348,738.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John A. Kite sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $30.09, for a total value of $992,970.00. Following the completion of the sale, the chief executive officer now owns 122,001 shares of the company’s stock, valued at $3,671,010.09. The disclosure for this sale can be found here. 1.19% of the stock is owned by insiders.

About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States.

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