Riverhead Capital Management LLC increased its stake in Kite Realty Group Trust (NYSE:KRG) by 64.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,727 shares of the real estate investment trust’s stock after acquiring an additional 2,627 shares during the quarter. Riverhead Capital Management LLC’s holdings in Kite Realty Group Trust were worth $127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Kite Realty Group Trust by 13.6% in the 2nd quarter. American Century Companies Inc. now owns 1,682,154 shares of the real estate investment trust’s stock worth $31,843,000 after acquiring an additional 202,026 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Kite Realty Group Trust by 13.6% in the 1st quarter. Prudential Financial Inc. now owns 283,371 shares of the real estate investment trust’s stock worth $6,092,000 after acquiring an additional 33,870 shares during the last quarter. IndexIQ Advisors LLC grew its holdings in shares of Kite Realty Group Trust by 11.7% in the 2nd quarter. IndexIQ Advisors LLC now owns 100,825 shares of the real estate investment trust’s stock worth $1,909,000 after acquiring an additional 10,589 shares during the last quarter. Menta Capital LLC acquired a new position in shares of Kite Realty Group Trust in the 1st quarter worth $228,000. Finally, Virginia Retirement Systems ET AL grew its holdings in shares of Kite Realty Group Trust by 105.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 81,000 shares of the real estate investment trust’s stock worth $1,533,000 after acquiring an additional 41,600 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

A number of brokerages have recently weighed in on KRG. ValuEngine downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. BidaskClub upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Robert W. Baird reiterated a “buy” rating and set a $23.00 price target on shares of Kite Realty Group Trust in a report on Thursday, August 24th. Finally, Zacks Investment Research upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Friday, July 21st. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $25.33.

Kite Realty Group Trust (KRG) opened at 20.31 on Thursday. Kite Realty Group Trust has a one year low of $17.60 and a one year high of $26.68. The stock has a market cap of $1.70 billion, a P/E ratio of 145.07 and a beta of 0.57. The stock’s 50 day moving average price is $20.24 and its 200-day moving average price is $19.94.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. Kite Realty Group Trust had a net margin of 3.29% and a return on equity of 0.73%. The business had revenue of $92.65 million during the quarter, compared to analysts’ expectations of $88.42 million. During the same quarter in the prior year, the company earned $0.52 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Kite Realty Group Trust will post ($0.05) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, October 6th will be given a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend is Thursday, October 5th. Kite Realty Group Trust’s dividend payout ratio is currently 864.29%.

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About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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