Pacer Advisors Inc. Has $688,000 Position in Kite Realty Group Trust (NYSE:KRG)

Pacer Advisors Inc. cut its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 29.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,756 shares of the real estate investment trust’s stock after selling 12,939 shares during the quarter. Pacer Advisors Inc.’s holdings in Kite Realty Group Trust were worth $688,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of Kite Realty Group Trust by 29.5% in the 4th quarter. LPL Financial LLC now owns 134,625 shares of the real estate investment trust’s stock valued at $3,398,000 after buying an additional 30,692 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Kite Realty Group Trust during the fourth quarter worth $348,000. Norges Bank bought a new stake in Kite Realty Group Trust during the fourth quarter worth $91,335,000. Pictet Asset Management Holding SA lifted its stake in Kite Realty Group Trust by 4.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 68,580 shares of the real estate investment trust’s stock valued at $1,731,000 after acquiring an additional 3,068 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Kite Realty Group Trust by 32.4% in the 4th quarter. Franklin Resources Inc. now owns 2,625,354 shares of the real estate investment trust’s stock valued at $66,264,000 after acquiring an additional 643,172 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KRG has been the topic of a number of research analyst reports. Raymond James Financial dropped their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Friday, May 23rd. Wall Street Zen downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Finally, UBS Group began coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.22.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $21.99 on Friday. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24. The company has a market cap of $4.83 billion, a PE ratio of 27.84, a P/E/G ratio of 6.99 and a beta of 1.09. The stock has a 50-day moving average of $22.49 and a 200-day moving average of $22.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting 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 firm had revenue of $211.18 million during the quarter, compared to analysts’ expectations of $211.74 million. On average, equities research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, October 9th. This represents a $1.08 annualized dividend and a yield of 4.9%. Kite Realty Group Trust’s dividend payout ratio is presently 136.71%.

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.