Kite Realty Group Trust (NYSE:KRG) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 31.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,120 shares of the real estate investment trust's stock after selling 83,270 shares during the quarter. Edgestream Partners L.P. owned about 0.08% of Kite Realty Group Trust worth $4,007,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KRG. Norges Bank bought a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $91,335,000. Centersquare Investment Management LLC bought a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $64,403,000. JPMorgan Chase & Co. increased its stake in Kite Realty Group Trust by 23.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after acquiring an additional 2,308,613 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Kite Realty Group Trust by 332.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock worth $33,776,000 after acquiring an additional 1,160,694 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Kite Realty Group Trust by 36.5% during the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock worth $75,038,000 after acquiring an additional 794,651 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Trading Down 0.8%

Shares of NYSE KRG traded down $0.17 during trading hours on Friday, reaching $22.43. The stock had a trading volume of 1,176,804 shares, compared to its average volume of 1,719,488. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 320.43, a P/E/G ratio of 6.88 and a beta of 1.09. The business's fifty day moving average price is $22.47 and its two-hundred day moving average price is $22.44. Kite Realty Group Trust has a 52-week low of $18.52 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. Analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.81%. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen cut Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Wells Fargo & Company reduced their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Raymond James Financial dropped their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Friday, May 23rd. Finally, UBS Group initiated coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.22.

About Kite Realty Group Trust

Kite Realty Group Trust NYSE: KRG is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company's primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.