GAMMA Investing LLC Raises Holdings in Kite Realty Group Trust (NYSE:KRG)

GAMMA Investing LLC lifted its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 1,523.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,736 shares of the real estate investment trust's stock after acquiring an additional 72,949 shares during the period. GAMMA Investing LLC's holdings in Kite Realty Group Trust were worth $1,739,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KRG. Choreo LLC acquired a new position in Kite Realty Group Trust during the 4th quarter valued at about $228,000. Van ECK Associates Corp increased its position in Kite Realty Group Trust by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 41,130 shares of the real estate investment trust's stock valued at $1,038,000 after buying an additional 3,811 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Kite Realty Group Trust by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 318,625 shares of the real estate investment trust's stock valued at $7,982,000 after buying an additional 1,387 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Kite Realty Group Trust by 5.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 238,357 shares of the real estate investment trust's stock valued at $6,016,000 after buying an additional 13,247 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Kite Realty Group Trust by 18.6% during the 4th quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust's stock valued at $2,741,000 after buying an additional 17,015 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock traded up $0.28 during trading hours on Wednesday, hitting $22.61. 1,130,841 shares of the stock traded hands, compared to its average volume of 1,693,257. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07. The firm's 50 day moving average price is $22.02 and its 200-day moving average price is $22.94. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 322.96, a P/E/G ratio of 5.69 and a beta of 1.11. Kite Realty Group Trust has a 1 year low of $18.52 and a 1 year high of $28.24.

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

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.78%. Kite Realty Group Trust's payout ratio is 1,542.86%.

Analyst Upgrades and Downgrades

KRG has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Wall Street Zen raised Kite Realty Group Trust from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Raymond James Financial dropped their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 23rd. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Kite Realty Group Trust presently has a consensus rating of "Moderate Buy" and an average target price of $27.63.

Kite Realty Group Trust Company Profile

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.