Pictet Asset Management Ltd. Purchases New Holdings in Kite Realty Group Trust (NYSE:KRG)

Pictet Asset Management Ltd. purchased a new stake in Kite Realty Group Trust (NYSE:KRG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,500 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Several other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Kite Realty Group Trust by 10.2% during the 4th quarter. Geode Capital Management LLC now owns 1,145,816 shares of the real estate investment trust’s stock worth $16,144,000 after acquiring an additional 106,004 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Kite Realty Group Trust by 9.3% during the 4th quarter. Bank of America Corp DE now owns 896,022 shares of the real estate investment trust’s stock worth $12,625,000 after acquiring an additional 76,026 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $174,000. Arizona State Retirement System raised its stake in shares of Kite Realty Group Trust by 6.2% during the 4th quarter. Arizona State Retirement System now owns 128,920 shares of the real estate investment trust’s stock worth $1,816,000 after acquiring an additional 7,547 shares in the last quarter. Finally, Advisory Resource Group bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth approximately $141,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

Shares of Kite Realty Group Trust stock opened at $15.58 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.16. Kite Realty Group Trust has a 12-month low of $13.66 and a 12-month high of $17.75. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 1.88 and a beta of 0.83.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $83.52 million for the quarter, compared to analyst estimates of $81.50 million. During the same quarter in the prior year, the business posted $0.51 EPS. Kite Realty Group Trust’s revenue for the quarter was down 7.0% compared to the same quarter last year. Research analysts forecast that Kite Realty Group Trust will post 1.66 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be paid 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 8.15%. Kite Realty Group Trust’s payout ratio is 63.50%.

KRG has been the subject of several recent analyst reports. Bank of America lowered shares of Kite Realty Group Trust from a “neutral” rating to an “underperform” rating in a research note on Monday, March 4th. TheStreet upgraded shares of Kite Realty Group Trust from a “d+” rating to a “c-” rating in a research note on Tuesday, February 19th. Raymond James lowered shares of Kite Realty Group Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 26th. Citigroup set a $16.00 price objective on shares of Kite Realty Group Trust and gave the stock a “hold” rating in a research note on Monday, May 20th. Finally, Capital One Financial reiterated an “overweight” rating on shares of Kite Realty Group Trust in a research note on Wednesday, February 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.33.

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

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