Wells Fargo & Company MN Buys 39,532 Shares of Kite Realty Group Trust (KRG)

Wells Fargo & Company MN lifted its stake in Kite Realty Group Trust (NYSE:KRG) by 60.8% during the 3rd quarter, Holdings Channel reports. The firm owned 104,504 shares of the real estate investment trust’s stock after acquiring an additional 39,532 shares during the period. Wells Fargo & Company MN’s holdings in Kite Realty Group Trust were worth $2,115,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KRG. State Street Corp lifted its holdings in Kite Realty Group Trust by 1.7% during the second quarter. State Street Corp now owns 3,348,017 shares of the real estate investment trust’s stock worth $63,381,000 after acquiring an additional 57,564 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Kite Realty Group Trust by 10.9% during the third quarter. Macquarie Group Ltd. now owns 2,343,832 shares of the real estate investment trust’s stock worth $47,463,000 after acquiring an additional 230,507 shares in the last quarter. Northern Trust Corp lifted its holdings in Kite Realty Group Trust by 4.4% during the second quarter. Northern Trust Corp now owns 1,767,415 shares of the real estate investment trust’s stock worth $33,456,000 after acquiring an additional 75,025 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Kite Realty Group Trust by 3.4% during the third quarter. Victory Capital Management Inc. now owns 1,592,476 shares of the real estate investment trust’s stock worth $32,248,000 after acquiring an additional 52,671 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Kite Realty Group Trust by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 1,299,861 shares of the real estate investment trust’s stock worth $26,324,000 after acquiring an additional 10,680 shares in the last quarter. Institutional investors and hedge funds own 94.32% of the company’s stock.

In other Kite Realty Group Trust news, CEO John A. Kite sold 17,000 shares of Kite Realty Group Trust 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 sale, the chief executive officer now owns 52,712 shares of the company’s stock, valued at approximately $1,058,984.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas R. Olinger sold 3,157 shares of Kite Realty Group Trust stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $19.01, for a total value of $60,014.57. The disclosure for this sale can be found here. Insiders sold a total of 25,157 shares of company stock worth $497,645 in the last three months. Company insiders own 1.87% of the company’s stock.

Several research analysts have weighed in on the company. ValuEngine lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Raymond James Financial reiterated an “outperform” rating and set a $23.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Friday, December 8th. Finally, Capital One Financial reiterated an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $23.80.

Kite Realty Group Trust (NYSE:KRG) opened at $17.68 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $1,496.33, a PE ratio of 117.87, a price-to-earnings-growth ratio of 1.92 and a beta of 0.63. Kite Realty Group Trust has a twelve month low of $17.60 and a twelve month high of $24.38.

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, meeting the Thomson Reuters’ 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 the consensus estimate of $88.16 million. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. equities analysts predict that Kite Realty Group Trust will post 2.04 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, January 5th were paid a $0.3175 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.27 annualized dividend and a dividend yield of 7.18%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 846.67%.

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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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