Public Sector Pension investment Board reduced its position in Kite Realty Group Trust (NYSE:KRG) by 28.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,115 shares of the real estate investment trust’s stock after selling 17,400 shares during the quarter. Public Sector Pension investment Board owned about 0.05% of Kite Realty Group Trust worth $816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of Kite Realty Group Trust by 11.5% in the 2nd quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 557 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Kite Realty Group Trust by 64.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 2,627 shares during the last quarter. First Mercantile Trust Co. increased its stake in shares of Kite Realty Group Trust by 14.4% in the 2nd quarter. First Mercantile Trust Co. now owns 6,737 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 850 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Kite Realty Group Trust by 17.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,525 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Kite Realty Group Trust in the 1st quarter worth $154,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

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Kite Realty Group Trust (NYSE KRG) opened at 20.31 on Thursday. Kite Realty Group Trust has a 12-month low of $17.60 and a 12-month high of $26.68. The stock has a market capitalization of $1.70 billion, a PE ratio of 145.07 and a beta of 0.57. The stock’s 50 day moving average price is $20.24 and its 200-day moving average price is $19.94.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The firm had revenue of $92.65 million during the quarter, compared to analyst estimates of $88.42 million. Kite Realty Group Trust had a return on equity of 0.73% and a net margin of 3.29%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. Analysts expect that Kite Realty Group Trust will post ($0.05) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, October 6th will be paid a $0.3025 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.21 annualized dividend and a yield of 5.96%. Kite Realty Group Trust’s payout ratio is currently 864.29%.

A number of brokerages have issued reports on KRG. Zacks Investment Research downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Robert W. Baird reaffirmed a “buy” rating and issued a $23.00 target price on shares of Kite Realty Group Trust in a research note on Thursday, August 24th. BidaskClub upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. KeyCorp reiterated a “hold” rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. Finally, ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $25.33.

About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

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

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