Kite Realty Group Trust (KRG) Position Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in Kite Realty Group Trust (NYSE:KRG) by 9.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 616,616 shares of the real estate investment trust’s stock after selling 64,111 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.74% of Kite Realty Group Trust worth $12,567,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Amalgamated Bank increased its holdings in Kite Realty Group Trust by 1.0% in the second quarter. Amalgamated Bank now owns 11,312 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 109 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Kite Realty Group Trust by 11.5% during the second quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 557 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings 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 worth $373,000 after purchasing an additional 700 shares during the last quarter. First Mercantile Trust Co. grew its holdings in shares of Kite Realty Group Trust by 14.4% during the second quarter. First Mercantile Trust Co. now owns 6,737 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 850 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of Kite Realty Group Trust by 23.5% during the second quarter. D.A. Davidson & CO. now owns 9,651 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 1,834 shares during the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust (NYSE:KRG) opened at $19.07 on Friday. The stock has a market capitalization of $1,595.81, a PE ratio of 9.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.62. Kite Realty Group Trust has a twelve month low of $17.60 and a twelve month high of $24.52. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, January 5th will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.66%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.30. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 806.67%.

In related news, CAO Thomas R. Olinger sold 3,157 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available at this link. Also, CEO John A. Kite sold 17,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $20.09, for a total value of $341,530.00. Following the transaction, the chief executive officer now directly owns 52,712 shares in the company, valued at approximately $1,058,984.08. The disclosure for this sale can be found here. Company insiders own 1.87% of the company’s stock.

Several equities analysts have issued reports on KRG shares. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. KeyCorp reaffirmed a “hold” rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. Capital One Financial reaffirmed an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. ValuEngine lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price objective on shares of Kite Realty Group Trust in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Kite Realty Group Trust currently has an average rating of “Hold” and a consensus target price of $23.80.

TRADEMARK VIOLATION NOTICE: This news story was first published by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.com-unik.info/2017/12/22/kite-realty-group-trust-krg-position-reduced-by-jpmorgan-chase-co.html.

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)

Receive News & Ratings for Kite Realty Group Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Realty Group Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit