Raymond James Financial Services Advisors Inc. Sells 3,606 Shares of Kite Realty Group Trust (KRG)

Raymond James Financial Services Advisors Inc. trimmed its stake in Kite Realty Group Trust (NYSE:KRG) by 12.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,228 shares of the real estate investment trust’s stock after selling 3,606 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Kite Realty Group Trust were worth $497,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Kite Realty Group Trust by 11.5% in the second quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 557 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Kite Realty Group Trust by 64.1% in the second quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 2,627 shares during the last quarter. First Mercantile Trust Co. lifted its stake in Kite Realty Group Trust by 14.4% in the second quarter. First Mercantile Trust Co. now owns 6,737 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 850 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Kite Realty Group Trust by 17.1% in the second quarter. Daiwa Securities Group Inc. now owns 7,525 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 1,100 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Kite Realty Group Trust by 23.5% in the second quarter. D.A. Davidson & CO. now owns 9,651 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 1,834 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

A number of research firms have issued reports on KRG. Zacks Investment Research cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of Kite Realty Group Trust in a research note on Friday, August 25th. Finally, Robert W. Baird reiterated 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $25.33.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The company had revenue of $87.10 million for the quarter, compared to analyst estimates of $88.16 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, October 6th were issued a $0.3025 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.21 dividend on an annualized basis and a yield of 6.34%. Kite Realty Group Trust’s dividend payout ratio is presently 806.67%.

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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.

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

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