Point72 Asset Management L.P. Invests $719,000 in Kite Realty Group Trust (NYSE:KRG)

Point72 Asset Management L.P. purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,501 shares of the real estate investment trust’s stock, valued at approximately $719,000. Point72 Asset Management L.P. owned 0.05% of Kite Realty Group Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in KRG. Renaissance Technologies LLC increased its holdings in shares of Kite Realty Group Trust by 30.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,475,200 shares of the real estate investment trust’s stock valued at $37,450,000 after acquiring an additional 580,700 shares during the last quarter. Balyasny Asset Management LLC boosted its position in shares of Kite Realty Group Trust by 485.9% during the 2nd quarter. Balyasny Asset Management LLC now owns 473,235 shares of the real estate investment trust’s stock valued at $7,160,000 after acquiring an additional 392,458 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Kite Realty Group Trust by 22.5% in the second quarter. Nuveen Asset Management LLC now owns 1,620,277 shares of the real estate investment trust’s stock valued at $24,514,000 after acquiring an additional 297,063 shares during the period. Morgan Stanley increased its stake in Kite Realty Group Trust by 167.1% in the second quarter. Morgan Stanley now owns 433,760 shares of the real estate investment trust’s stock valued at $6,563,000 after acquiring an additional 271,352 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in Kite Realty Group Trust in the third quarter worth about $3,231,000. 91.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kite Realty Group Trust stock opened at $19.12 on Friday. The company has a market capitalization of $1.62 billion, a PE ratio of 9.56 and a beta of 0.85. Kite Realty Group Trust has a 12 month low of $13.66 and a 12 month high of $19.77. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.92. The stock’s fifty day simple moving average is $18.27 and its 200 day simple moving average is $16.18.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). Kite Realty Group Trust had a negative net margin of 14.39% and a negative return on equity of 3.45%. The business had revenue of $74.94 million during the quarter, compared to analyst estimates of $76.16 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The firm’s revenue was down 12.6% on a year-over-year basis. Analysts predict that Kite Realty Group Trust will post 1.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be given a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Thursday, December 19th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 63.50%.

A number of research analysts have commented on KRG shares. Barclays set a $16.00 price objective on Kite Realty Group Trust and gave the company a “hold” rating in a report on Friday, October 11th. Compass Point cut Kite Realty Group Trust from a “neutral” rating to a “sell” rating and set a $18.00 target price for the company. in a report on Monday, November 25th. Sandler O’Neill upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, ValuEngine cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

In related news, CEO John A. Kite sold 17,000 shares of Kite Realty Group Trust stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $15.85, for a total transaction of $269,450.00. Following the completion of the transaction, the chief executive officer now owns 30,610 shares in the company, valued at $485,168.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John A. Kite sold 12,500 shares of Kite Realty Group Trust stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $18.78, for a total value of $234,750.00. Following the transaction, the chief executive officer now owns 26,110 shares of the company’s stock, valued at approximately $490,345.80. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

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

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