Great Lakes Advisors LLC Sells 23,531 Shares of Kite Realty Group Trust $KRG

Great Lakes Advisors LLC reduced its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 183,620 shares of the real estate investment trust’s stock after selling 23,531 shares during the quarter. Great Lakes Advisors LLC’s holdings in Kite Realty Group Trust were worth $4,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new stake in Kite Realty Group Trust during the second quarter worth about $65,504,000. JPMorgan Chase & Co. boosted its position in shares of Kite Realty Group Trust by 11.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock worth $281,229,000 after acquiring an additional 1,250,549 shares in the last quarter. Sei Investments Co. increased its stake in Kite Realty Group Trust by 171.0% in the second quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock valued at $38,756,000 after acquiring an additional 1,079,727 shares during the last quarter. Bank of America Corp DE increased its stake in Kite Realty Group Trust by 14.9% in the second quarter. Bank of America Corp DE now owns 5,956,664 shares of the real estate investment trust’s stock valued at $134,918,000 after acquiring an additional 773,023 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Kite Realty Group Trust by 53.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,557 shares of the real estate investment trust’s stock valued at $44,835,000 after purchasing an additional 701,210 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. UBS Group reissued a “neutral” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday, December 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.43.

Kite Realty Group Trust Stock Up 1.1%

Shares of Kite Realty Group Trust stock opened at $23.52 on Friday. The stock’s 50-day moving average is $23.40 and its 200 day moving average is $22.67. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $24.50. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 5.87 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.98.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.27%. The firm had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Equities research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were issued a dividend of $0.29 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio is 181.25%.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.