Teachers Insurance & Annuity Association of America trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 32.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 76,531 shares of the real estate investment trust’s stock after selling 36,936 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in Kite Realty Group Trust were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter worth approximately $32,000. Pearl River Capital LLC purchased a new position in Kite Realty Group Trust in the fourth quarter valued at about $37,000. Versant Capital Management Inc raised its position in Kite Realty Group Trust by 96.3% in the first quarter. Versant Capital Management Inc now owns 2,518 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,235 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of Kite Realty Group Trust by 2,850.5% during the first quarter. Valeo Financial Advisors LLC now owns 3,157 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 3,050 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $84,000. Institutional investors and hedge funds own 90.92% of the company’s stock.
A number of research firms recently commented on KRG. Bank of America downgraded Kite Realty Group Trust from a “neutral” rating to an “underperform” rating in a research note on Monday, March 4th. Raymond James downgraded Kite Realty Group Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 26th. Capital One Financial reiterated an “overweight” rating on shares of Kite Realty Group Trust in a research note on Wednesday, February 20th. TheStreet upgraded Kite Realty Group Trust from a “d+” rating to a “c-” rating in a research note on Tuesday, February 19th. Finally, ValuEngine upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Kite Realty Group Trust has an average rating of “Hold” and a consensus target price of $16.50.
Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. Kite Realty Group Trust had a negative return on equity of 1.59% and a negative net margin of 6.59%. The company had revenue of $83.52 million during the quarter, compared to the consensus estimate of $81.50 million. During the same period in the previous year, the firm posted $0.51 earnings per share. Kite Realty Group Trust’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts expect that Kite Realty Group Trust will post 1.66 EPS for the current fiscal year.
In other Kite Realty Group Trust news, CFO R Fear Heath purchased 7,500 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were bought at an average price of $15.79 per share, with a total value of $118,425.00. Following the completion of the acquisition, the chief financial officer now owns 78,883 shares in the company, valued at approximately $1,245,562.57. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.07% of the company’s stock.
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Kite Realty Group Trust Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.
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