Independent Portfolio Consultants Inc. decreased its position in shares of Kite Realty Group Trust (NYSE:KRG) by 5.4% during the third quarter, Holdings Channel reports. The firm owned 5,294 shares of the company’s stock after selling 300 shares during the period. Independent Portfolio Consultants Inc.’s holdings in Kite Realty Group Trust were worth $147,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth approximately $131,000. PNC Financial Services Group Inc. raised its stake in shares of Kite Realty Group Trust by 9.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,684 shares of the company’s stock worth $159,000 after buying an additional 496 shares during the period. GWM Advisors LLC acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth approximately $210,000. Baker Ellis Asset Management LLC acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth approximately $223,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth approximately $248,000. Institutional investors and hedge funds own 92.72% of the company’s stock.
Shares of Kite Realty Group Trust (NYSE:KRG) remained flat at $24.34 during trading on Friday. The stock had a trading volume of 771,693 shares. The company’s 50-day moving average price is $25.13 and its 200 day moving average price is $27.34. Kite Realty Group Trust has a 52 week low of $23.47 and a 52 week high of $30.45. The stock has a market capitalization of $2.03 billion, a PE ratio of 811.33 and a beta of 0.75.
Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Kite Realty Group Trust had a return on equity of 0.56% and a net margin of 2.67%. The company earned $89.10 million during the quarter, compared to analyst estimates of $88.39 million. During the same quarter last year, the firm posted $0.51 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Kite Realty Group Trust will post $2.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, January 6th will be paid a $0.3025 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, January 4th. This represents a $1.21 dividend on an annualized basis and a yield of 4.97%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 2,875.72%.
A number of equities analysts have issued reports on the stock. BTIG Research assumed coverage on shares of Kite Realty Group Trust in a report on Thursday, August 25th. They set a “buy” rating and a $35.00 price objective on the stock. Hilliard Lyons raised shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating in a report on Monday, October 31st. Finally, Zacks Investment Research downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $32.00.
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.