Public Sector Pension Investment Board Has $3.67 Million Stake in Kite Realty Group Trust (NYSE:KRG)

Public Sector Pension Investment Board trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 12.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,131 shares of the real estate investment trust’s stock after selling 26,300 shares during the period. Public Sector Pension Investment Board owned 0.22% of Kite Realty Group Trust worth $3,674,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pictet Asset Management Ltd. increased its position in Kite Realty Group Trust by 3.7% during the 4th quarter. Pictet Asset Management Ltd. now owns 16,800 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 600 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Kite Realty Group Trust by 35.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,785 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 1,247 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Kite Realty Group Trust by 9.9% during the 4th quarter. Amalgamated Bank now owns 14,203 shares of the real estate investment trust’s stock valued at $277,000 after acquiring an additional 1,278 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Kite Realty Group Trust by 8.7% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,044 shares of the real estate investment trust’s stock valued at $344,000 after acquiring an additional 1,438 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Kite Realty Group Trust by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 129,142 shares of the real estate investment trust’s stock valued at $2,086,000 after acquiring an additional 1,542 shares during the last quarter. 94.10% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust stock traded up $0.06 during trading hours on Thursday, reaching $10.27. 55,533 shares of the company’s stock were exchanged, compared to its average volume of 1,081,483. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.89. The firm’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $17.20. Kite Realty Group Trust has a twelve month low of $7.85 and a twelve month high of $19.77. The firm has a market capitalization of $857.95 million, a PE ratio of -1,029.00, a PEG ratio of 3.24 and a beta of 0.99.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, February 18th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.18). Kite Realty Group Trust had a negative net margin of 0.16% and a negative return on equity of 0.04%. The firm had revenue of $75.27 million during the quarter, compared to the consensus estimate of $73.17 million. During the same quarter last year, the firm posted $0.48 earnings per share. Kite Realty Group Trust’s revenue was down 13.4% compared to the same quarter last year. Analysts anticipate that Kite Realty Group Trust will post 1.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 27th will be given a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a yield of 12.35%. The ex-dividend date of this dividend is Thursday, March 26th. Kite Realty Group Trust’s dividend payout ratio is presently 76.51%.

In related news, CFO R Fear Heath bought 6,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average price of $16.18 per share, with a total value of $97,080.00. 2.07% of the stock is currently owned by insiders.

A number of research analysts have recently commented on the company. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. BTIG Research cut Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a research note on Monday, January 6th. Citigroup upped their target price on Kite Realty Group Trust from $16.00 to $19.50 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Bank of America upgraded Kite Realty Group Trust from an “underperform” rating to a “neutral” rating in a research note on Monday, January 6th. Finally, Compass Point upgraded Kite Realty Group Trust from a “neutral” rating to a “buy” rating and set a $18.50 target price for the company in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $18.80.

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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