Pensionfund Sabic trimmed its holdings in Kite Realty Group Trust (NYSE:KRG) by 17.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,400 shares of the real estate investment trust’s stock after selling 8,000 shares during the period. Pensionfund Sabic’s holdings in Kite Realty Group Trust were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund acquired a new stake in Kite Realty Group Trust during the fourth quarter worth about $32,000. Pearl River Capital LLC acquired a new stake in Kite Realty Group Trust during the fourth quarter worth about $37,000. Quantamental Technologies LLC acquired a new stake in Kite Realty Group Trust during the fourth quarter worth about $84,000. Advisory Resource Group acquired a new stake in Kite Realty Group Trust during the fourth quarter worth about $141,000. Finally, Koshinski Asset Management Inc. acquired a new stake in Kite Realty Group Trust during the third quarter worth about $171,000. Institutional investors and hedge funds own 92.10% of the company’s stock.
KRG stock traded up $0.24 during mid-day trading on Wednesday, hitting $15.72. 324,700 shares of the company were exchanged, compared to its average volume of 521,804. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $1.28 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.88. Kite Realty Group Trust has a 12-month low of $13.66 and a 12-month high of $17.75.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 22nd were paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 8.08%. The ex-dividend date of this dividend was Thursday, March 21st. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 63.50%.
In related news, CFO R Fear Heath bought 7,500 shares of the stock in a transaction on Tuesday, February 26th. The stock was bought at an average price of $15.79 per share, with a total value of $118,425.00. Following the completion of the purchase, the chief financial officer now directly owns 78,883 shares in the company, valued at approximately $1,245,562.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.07% of the company’s stock.
Several equities research analysts recently issued reports on KRG shares. Bank of America cut shares of Kite Realty Group Trust from a “neutral” rating to an “underperform” rating in a research report on Monday, March 4th. Capital One Financial restated an “overweight” rating on shares of Kite Realty Group Trust in a research 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 research report on Tuesday, February 26th. Barclays cut shares of Kite Realty Group Trust from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $15.00 to $16.00 in a research report on Monday, February 4th. Finally, ValuEngine upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Kite Realty Group Trust presently has a consensus rating of “Hold” and a consensus target price of $16.13.
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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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