Kite Realty Group Trust (NYSE:KRG) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its holdings in Kite Realty Group Trust (NYSE: KRG) by 29.6%, ending the first quarter with a position valued at $688,000.
• Institutional investors hold 90.81% of Kite Realty Group Trust's stock, with recent activity including significant purchases by LPL Financial and Franklin Resources.
• KRG's stock has a current market value of $21.99, with analysts providing average ratings of "Hold" and a price target of $27.22.

Pacer Advisors Inc. trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 29.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,756 shares of the real estate investment trust's stock after selling 12,939 shares during the period. Pacer Advisors Inc.'s holdings in Kite Realty Group Trust were worth $688,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. M&T Bank Corp boosted its position in shares of Kite Realty Group Trust by 52.5% during the 1st quarter. M&T Bank Corp now owns 55,597 shares of the real estate investment trust's stock valued at $1,244,000 after purchasing an additional 19,132 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Kite Realty Group Trust by 332.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock valued at $33,776,000 after purchasing an additional 1,160,694 shares during the period. GAMMA Investing LLC raised its position in shares of Kite Realty Group Trust by 1,523.9% in the first quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust's stock valued at $1,739,000 after purchasing an additional 72,949 shares during the period. SG Americas Securities LLC bought a new position in Kite Realty Group Trust during the first quarter worth $795,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in Kite Realty Group Trust by 27.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 59,489 shares of the real estate investment trust's stock worth $1,331,000 after acquiring an additional 12,696 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Trading Down 1.6%

Shares of KRG traded down $0.35 during mid-day trading on Friday, reaching $21.63. 2,064,786 shares of the company's stock traded hands, compared to its average volume of 1,445,397. The stock has a market cap of $4.75 billion, a P/E ratio of 27.37, a P/E/G ratio of 6.67 and a beta of 1.16. The stock's 50-day moving average is $22.49 and its two-hundred day moving average is $22.35. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.07.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting analysts' consensus estimates of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. The company had revenue of $211.18 million during the quarter, compared to analyst estimates of $211.74 million. Research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's payout ratio is presently 136.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KRG shares. UBS Group began coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target for the company. Wall Street Zen lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Raymond James Financial reduced their price target 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. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of "Hold" and a consensus price target of $27.22.

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.