Today, Kite Realty Group Trust (KRG) Stake Increased by First National Trust Co.

Today, Kite Realty Group Trust (KRG) Stake Increased by First National Trust Co.

First National Trust Co. increased its position in shares of Kite Realty Group Trust (NYSE:KRG) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,083 shares of the company’s stock after buying an additional 146 shares during the period. First National Trust Co.’s holdings in Kite Realty Group Trust were worth $395,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Kite Realty Group Trust by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 600,777 shares of the company’s stock valued at $16,648,000 after buying an additional 177,684 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Kite Realty Group Trust by 11.7% in the second quarter. American Century Companies Inc. now owns 872,995 shares of the company’s stock valued at $24,470,000 after buying an additional 91,666 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Kite Realty Group Trust by 11.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 814,490 shares of the company’s stock valued at $22,830,000 after buying an additional 84,326 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Kite Realty Group Trust by 48.2% in the second quarter. New York State Teachers Retirement System now owns 229,435 shares of the company’s stock valued at $6,431,000 after buying an additional 74,600 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Kite Realty Group Trust by 1.0% in the first quarter. BlackRock Fund Advisors now owns 5,716,963 shares of the company’s stock valued at $158,417,000 after buying an additional 57,883 shares during the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.

Shares of Kite Realty Group Trust (NYSE:KRG) traded down 0.38% on Thursday, reaching $26.00. The company’s stock had a trading volume of 231,485 shares. The company’s 50 day moving average price is $28.24 and its 200 day moving average price is $27.97. Kite Realty Group Trust has a 12-month low of $23.75 and a 12-month high of $30.45. The company has a market cap of $2.17 billion, a P/E ratio of 520.00 and a beta of 0.80.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The firm had revenue of $87.58 million for the quarter, compared to the consensus estimate of $87.30 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.88%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Analysts forecast that Kite Realty Group Trust will post $2.05 EPS for the current fiscal year.

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

Several brokerages recently commented on KRG. Hilliard Lyons lowered Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a research report on Monday, August 1st. Zacks Investment Research lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Barclays PLC began coverage on Kite Realty Group Trust in a research report on Friday, July 22nd. They set an “overweight” rating and a $33.00 target price on the stock. Finally, BTIG Research began coverage on Kite Realty Group Trust in a research report on Thursday, August 25th. They set a “buy” rating and a $35.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.00.

In related news, VP Daniel R. Sink sold 16,625 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $29.95, for a total transaction of $497,918.75. Following the transaction, the vice president now owns 84,498 shares in the company, valued at approximately $2,530,715.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John A. Kite sold 33,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $30.09, for a total value of $992,970.00. Following the transaction, the chief executive officer now owns 122,001 shares in the company, valued at approximately $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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