Nationwide Fund Advisors Sells 11,636 Shares of Kite Realty Group Trust (KRG)

Nationwide Fund Advisors reduced its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,683 shares of the real estate investment trust’s stock after selling 11,636 shares during the quarter. Nationwide Fund Advisors owned 0.22% of Kite Realty Group Trust worth $3,679,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in KRG. Aperio Group LLC grew its stake in shares of Kite Realty Group Trust by 19.1% during the second quarter. Aperio Group LLC now owns 26,573 shares of the real estate investment trust’s stock valued at $503,000 after buying an additional 4,264 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Kite Realty Group Trust by 30.4% during the second quarter. Russell Investments Group Ltd. now owns 153,650 shares of the real estate investment trust’s stock valued at $2,909,000 after buying an additional 35,789 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Kite Realty Group Trust by 3.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 19,720 shares of the real estate investment trust’s stock valued at $373,000 after buying an additional 700 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Kite Realty Group Trust by 1.6% during the second quarter. Great West Life Assurance Co. Can now owns 161,599 shares of the real estate investment trust’s stock valued at $3,057,000 after buying an additional 2,600 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Kite Realty Group Trust by 17.1% during 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. 94.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kite Realty Group Trust (NYSE KRG) opened at $19.91 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $1,664.36, a PE ratio of 9.76, a P/E/G ratio of 2.16 and a beta of 0.62. Kite Realty Group Trust has a 12 month low of $17.60 and a 12 month high of $24.52.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The company had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $88.16 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. Kite Realty Group Trust’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. analysts predict that Kite Realty Group Trust will post 2.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, January 5th will be given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 6.38%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, January 4th. Kite Realty Group Trust’s payout ratio is presently 806.67%.

KRG has been the topic of several recent analyst reports. Zacks Investment Research cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Robert W. Baird reissued 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. Capital One Financial reissued an “equal weight” rating on shares of Kite Realty Group Trust in a research note on Tuesday, October 24th. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, KeyCorp reissued a “hold” rating on shares of Kite Realty Group Trust in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $25.00.

In other Kite Realty Group Trust news, CAO Thomas R. Olinger sold 3,157 shares of Kite Realty Group Trust stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.01, for a total transaction of $60,014.57. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.87% of the company’s stock.

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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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