Kite Realty Group Trust (NYSE:KRG) Shares Purchased by American International Group Inc.

American International Group Inc. increased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,850 shares of the real estate investment trust’s stock after purchasing an additional 1,739 shares during the quarter. American International Group Inc. owned 0.07% of Kite Realty Group Trust worth $679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Kite Realty Group Trust by 7.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,629 shares of the real estate investment trust’s stock worth $307,000 after acquiring an additional 1,849 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Kite Realty Group Trust by 429.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,347 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,904 shares in the last quarter. Comerica Bank boosted its position in shares of Kite Realty Group Trust by 2.0% during the 1st quarter. Comerica Bank now owns 101,189 shares of the real estate investment trust’s stock worth $769,000 after acquiring an additional 1,994 shares in the last quarter. Swiss National Bank boosted its position in shares of Kite Realty Group Trust by 1.3% during the 1st quarter. Swiss National Bank now owns 162,900 shares of the real estate investment trust’s stock worth $1,543,000 after acquiring an additional 2,100 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of Kite Realty Group Trust by 4.4% during the 1st quarter. State of Tennessee Treasury Department now owns 53,962 shares of the real estate investment trust’s stock worth $511,000 after acquiring an additional 2,281 shares in the last quarter. 92.18% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on KRG. Zacks Investment Research downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 18th. DA Davidson reissued a “neutral” rating on shares of Kite Realty Group Trust in a report on Monday, August 10th. Citigroup boosted their target price on Kite Realty Group Trust from $8.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Raymond James reissued a “hold” rating on shares of Kite Realty Group Trust in a report on Thursday, August 13th. Finally, Compass Point raised Kite Realty Group Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $12.00 to $14.00 in a research note on Wednesday, August 19th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Kite Realty Group Trust presently has a consensus rating of “Hold” and an average target price of $15.00.

Shares of KRG stock opened at $12.24 on Wednesday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -102.00, a price-to-earnings-growth ratio of 7.06 and a beta of 1.18. The stock has a 50 day simple moving average of $11.17 and a 200-day simple moving average of $10.87. Kite Realty Group Trust has a 12-month low of $6.87 and a 12-month high of $19.77. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 1.08.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.35). Kite Realty Group Trust had a negative return on equity of 0.73% and a negative net margin of 3.27%. On average, equities analysts forecast that Kite Realty Group Trust will post 1.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, October 2nd will be issued a $0.08 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.05. Kite Realty Group Trust’s dividend payout ratio is currently 12.65%.

About Kite Realty Group Trust

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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