First Republic Investment Management Inc. Raises Position in Kite Realty Group Trust (KRG)

First Republic Investment Management Inc. increased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 24.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 22,563 shares of the real estate investment trust’s stock after buying an additional 4,369 shares during the period. First Republic Investment Management Inc.’s holdings in Kite Realty Group Trust were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KRG. Norges Bank acquired a new position in Kite Realty Group Trust during the 4th quarter worth about $16,934,000. BlackRock Inc. lifted its position in Kite Realty Group Trust by 3.8% during the 4th quarter. BlackRock Inc. now owns 14,570,902 shares of the real estate investment trust’s stock worth $205,305,000 after buying an additional 527,076 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in Kite Realty Group Trust during the 4th quarter worth about $32,000. Vanguard Group Inc. lifted its position in Kite Realty Group Trust by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,991,507 shares of the real estate investment trust’s stock worth $216,308,000 after buying an additional 408,882 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in Kite Realty Group Trust by 10.1% during the 4th quarter. Macquarie Group Ltd. now owns 4,167,496 shares of the real estate investment trust’s stock worth $58,720,000 after buying an additional 382,542 shares in the last quarter. Institutional investors and hedge funds own 90.44% of the company’s stock.

Kite Realty Group Trust stock opened at $16.29 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.35 and a current ratio of 1.35. Kite Realty Group Trust has a 1 year low of $13.66 and a 1 year high of $17.75. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 8.15, a price-to-earnings-growth ratio of 1.95 and a beta of 0.86.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Monday, May 6th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Kite Realty Group Trust had a negative net margin of 6.59% and a negative return on equity of 1.59%. The company had revenue of $83.52 million for the quarter, compared to the consensus estimate of $81.50 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was down 7.0% compared to the same quarter last year. On average, analysts forecast that Kite Realty Group Trust will post 1.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $1.27 dividend on an annualized basis and a yield of 7.80%. Kite Realty Group Trust’s payout ratio is presently 63.50%.

In other Kite Realty Group Trust news, CFO R Fear Heath bought 7,500 shares of the business’s stock in a transaction on Tuesday, February 26th. The shares were bought at an average cost of $15.79 per share, for a total transaction of $118,425.00. Following the transaction, the chief financial officer now owns 78,883 shares in the company, valued at approximately $1,245,562.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.07% of the company’s stock.

Several research analysts recently issued reports on KRG shares. Zacks Investment Research downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Barclays downgraded shares of Kite Realty Group Trust from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $15.00 to $16.00 in a research report on Monday, February 4th. ValuEngine upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. TheStreet upgraded shares of Kite Realty Group Trust from a “d+” rating to a “c-” rating in a research report on Tuesday, February 19th. Finally, Capital One Financial reiterated an “overweight” rating on shares of Kite Realty Group Trust in a research report on Wednesday, February 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.50.

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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 neighborhood, community, and lifestyle centers.

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Want to see what other hedge funds are holding KRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Realty Group Trust (NYSE:KRG).

Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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