Meeder Asset Management Inc. lowered its position in Kite Realty Group Trust (NYSE:KRG) by 34.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,106 shares of the real estate investment trust’s stock after selling 2,170 shares during the quarter. Meeder Asset Management Inc.’s holdings in Kite Realty Group Trust were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $31,000. CWM Advisors LLC bought a new position in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $161,000. Everence Capital Management Inc. bought a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $174,000. Pictet Asset Management Ltd. bought a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $216,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Kite Realty Group Trust by 11.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,725 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 1,400 shares in the last quarter. 90.75% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on the company. ValuEngine cut Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 21st. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Friday, June 14th. Compass Point began coverage on Kite Realty Group Trust in a research report on Thursday, August 15th. They set a “sell” rating and a $13.50 target price on the stock. Citigroup set a $16.00 target price on Kite Realty Group Trust and gave the stock a “hold” rating in a research report on Monday, May 20th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Kite Realty Group Trust in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.63.
Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $81.48 million during the quarter, compared to analyst estimates of $79.95 million. Kite Realty Group Trust had a negative return on equity of 1.66% and a negative net margin of 6.92%. The business’s revenue was down 11.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. As a group, sell-side analysts predict that Kite Realty Group Trust will post 1.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be given a dividend of $0.317 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 9.01%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 63.50%.
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.
Featured Story: The four types of profit margin
Receive News & Ratings for Kite Realty Group Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Realty Group Trust and related companies with MarketBeat.com's FREE daily email newsletter.