Aew Capital Management L P Sells 638,728 Shares of Kite Realty Group Trust $KRG

Aew Capital Management L P lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 61.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 407,520 shares of the real estate investment trust’s stock after selling 638,728 shares during the period. Kite Realty Group Trust accounts for about 0.5% of Aew Capital Management L P’s investment portfolio, making the stock its 24th biggest holding. Aew Capital Management L P’s holdings in Kite Realty Group Trust were worth $9,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Kite Realty Group Trust by 11.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock worth $281,229,000 after purchasing an additional 1,250,549 shares during the last quarter. Bank of America Corp DE raised its holdings in Kite Realty Group Trust by 14.9% in the second quarter. Bank of America Corp DE now owns 5,956,664 shares of the real estate investment trust’s stock worth $134,918,000 after purchasing an additional 773,023 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kite Realty Group Trust by 0.7% during the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock valued at $133,183,000 after buying an additional 40,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Kite Realty Group Trust by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,758,033 shares of the real estate investment trust’s stock worth $85,119,000 after acquiring an additional 61,982 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $65,504,000. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on KRG shares. Wall Street Zen raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Finally, Robert W. Baird increased their price objective on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $26.02 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $26.30. The stock’s 50-day moving average price is $24.11 and its 200-day moving average price is $23.00. The stock has a market capitalization of $5.38 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 6.59 and a beta of 0.91.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.5%. The ex-dividend date is Thursday, April 9th. Kite Realty Group Trust’s payout ratio is 84.06%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.