Kite Realty Group Trust (NYSE:KRG) Sees Unusually-High Trading Volume

Kite Realty Group Trust (NYSE:KRG) saw unusually-high trading volume on Monday . Approximately 1,242,400 shares were traded during trading, an increase of 152% from the previous session’s volume of 493,749 shares.The stock last traded at $19.40 and had previously closed at $19.35.

Several research firms recently issued reports on KRG. Compass Point cut shares of Kite Realty Group Trust from a “neutral” rating to a “sell” rating and set a $18.00 target price for the company. in a research note on Monday, November 25th. Sandler O’Neill raised shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. ValuEngine lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays set a $16.00 price objective on shares of Kite Realty Group Trust and gave the stock a “hold” rating in a research report on Friday, October 11th. Finally, Zacks Investment Research raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Kite Realty Group Trust currently has an average rating of “Hold” and a consensus target price of $17.00.

The firm has a market capitalization of $1.62 billion, a PE ratio of 9.69 and a beta of 0.85. The stock has a 50-day moving average price of $18.16 and a 200 day moving average price of $16.15. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.92.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). Kite Realty Group Trust had a negative net margin of 14.39% and a negative return on equity of 3.45%. The business had revenue of $74.94 million for the quarter, compared to analysts’ expectations of $76.16 million. During the same quarter last year, the business earned $0.48 EPS. The company’s quarterly revenue was down 12.6% on a year-over-year basis. As a group, equities analysts predict that Kite Realty Group Trust will post 1.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be given a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend is Thursday, December 19th. Kite Realty Group Trust’s dividend payout ratio is presently 63.50%.

In other Kite Realty Group Trust news, CEO John A. Kite sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $15.85, for a total transaction of $269,450.00. Following the completion of the sale, the chief executive officer now directly owns 30,610 shares in the company, valued at approximately $485,168.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John A. Kite sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $18.78, for a total value of $234,750.00. Following the completion of the transaction, the chief executive officer now owns 26,110 shares in the company, valued at approximately $490,345.80. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. lifted its stake in shares of Kite Realty Group Trust by 18.4% in the second quarter. Prudential Financial Inc. now owns 872,977 shares of the real estate investment trust’s stock worth $13,208,000 after buying an additional 135,766 shares in the last quarter. Arizona State Retirement System raised its holdings in Kite Realty Group Trust by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 130,204 shares of the real estate investment trust’s stock valued at $1,970,000 after acquiring an additional 896 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in Kite Realty Group Trust by 20.0% in the 2nd quarter. Pictet Asset Management Ltd. now owns 16,200 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 2,700 shares in the last quarter. Susquehanna International Group LLP lifted its stake in Kite Realty Group Trust by 105.3% in the 2nd quarter. Susquehanna International Group LLP now owns 30,175 shares of the real estate investment trust’s stock worth $457,000 after purchasing an additional 15,475 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Kite Realty Group Trust by 13.3% during the 3rd quarter. California Public Employees Retirement System now owns 153,537 shares of the real estate investment trust’s stock worth $2,480,000 after purchasing an additional 17,976 shares during the last quarter. Hedge funds and other institutional investors own 91.26% of the company’s stock.

About Kite Realty Group Trust (NYSE:KRG)

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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