Axa grew its holdings in Kite Realty Group Trust (NYSE:KRG) by 29.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 345,683 shares of the real estate investment trust’s stock after acquiring an additional 78,091 shares during the quarter. Axa owned 0.41% of Kite Realty Group Trust worth $5,756,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of KRG. Securian Asset Management Inc acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth about $788,000. Ramsey Quantitative Systems acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth about $366,000. Goodwin Daniel L lifted its holdings in shares of Kite Realty Group Trust by 15.4% during the third quarter. Goodwin Daniel L now owns 45,379 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 6,047 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth about $212,000. Finally, Bank of America Corp DE lifted its holdings in shares of Kite Realty Group Trust by 12.5% during the second quarter. Bank of America Corp DE now owns 910,250 shares of the real estate investment trust’s stock worth $15,547,000 after purchasing an additional 101,111 shares during the period. 92.84% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on KRG. Citigroup decreased their target price on Kite Realty Group Trust from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Thursday. Zacks Investment Research downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 27th. Finally, Robert W. Baird downgraded Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 price target for the company. in a report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Kite Realty Group Trust has a consensus rating of “Hold” and an average target price of $17.75.
In other Kite Realty Group Trust news, CEO John A. Kite sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $17.42, for a total value of $609,700.00. Following the completion of the transaction, the chief executive officer now directly owns 68,588 shares of the company’s stock, valued at $1,194,802.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.93% of the company’s stock.
Shares of NYSE:KRG opened at $16.15 on Friday. Kite Realty Group Trust has a 12-month low of $13.87 and a 12-month high of $20.24. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 7.92, a P/E/G ratio of 2.01 and a beta of 0.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.89 and a quick ratio of 0.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Friday, January 4th will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.86%. The ex-dividend date of this dividend is Thursday, January 3rd. Kite Realty Group Trust’s payout ratio is presently 62.25%.
Kite Realty Group Trust 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 open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
Featured Article: Diversification Important in Investing
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.