Virginia Retirement Systems ET AL Raises Holdings in Kite Realty Group Trust (KRG)

Virginia Retirement Systems ET AL grew its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 29.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,700 shares of the real estate investment trust’s stock after buying an additional 33,900 shares during the quarter. Virginia Retirement Systems ET AL owned 0.18% of Kite Realty Group Trust worth $2,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Piedmont Investment Advisors Inc. boosted its holdings in Kite Realty Group Trust by 3.4% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 19,904 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 647 shares during the last quarter. BB&T Securities LLC boosted its holdings in Kite Realty Group Trust by 4.5% during the fourth quarter. BB&T Securities LLC now owns 16,613 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 715 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Kite Realty Group Trust by 1.7% during the fourth quarter. State of Alaska Department of Revenue now owns 54,962 shares of the real estate investment trust’s stock worth $772,000 after purchasing an additional 899 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Kite Realty Group Trust by 5.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,967 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Kite Realty Group Trust by 96.3% during the first quarter. Versant Capital Management Inc now owns 2,518 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,235 shares during the last quarter. Hedge funds and other institutional investors own 90.44% of the company’s stock.

KRG stock traded down $0.03 during mid-day trading on Wednesday, hitting $16.14. The company had a trading volume of 333,893 shares, compared to its average volume of 507,392. Kite Realty Group Trust has a 12 month low of $13.66 and a 12 month high of $17.75. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.96 and a beta of 0.86.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Kite Realty Group Trust had a negative net margin of 6.59% and a negative return on equity of 1.59%. The company had revenue of $83.52 million for the quarter, compared to analyst estimates of $81.50 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts forecast that Kite Realty Group Trust will post 1.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 21st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.87%. The ex-dividend date of this dividend is Thursday, June 20th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 63.50%.

KRG has been the topic of several analyst reports. Bank of America cut shares of Kite Realty Group Trust from a “neutral” rating to an “underperform” rating in a report on Monday, March 4th. Capital One Financial restated an “overweight” rating on shares of Kite Realty Group Trust in a report on Wednesday, February 20th. Raymond James cut shares of Kite Realty Group Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 26th. Barclays lowered shares of Kite Realty Group Trust from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $15.00 to $16.00 in a research report on Monday, February 4th. Finally, ValuEngine raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.33.

In other Kite Realty Group Trust news, CFO R Fear Heath purchased 7,500 shares of the stock in a transaction dated Tuesday, February 26th. The shares were bought at an average price of $15.79 per share, with a total value of $118,425.00. Following the completion of the transaction, the chief financial officer now directly owns 78,883 shares in the company, valued at approximately $1,245,562.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.07% of the company’s stock.

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Kite Realty Group Trust Company 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 neighborhood, community, and lifestyle centers.

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

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