November 26, 2016 - By Louis Casey
John Kite is the Chairman & CEO of Kite Realty Group Trust. He not a long ago made a sale of 33,000 shares in the corporation with the trade value amounting to around $803,550 USD. The stated number is based on the reported price of $24.4 per share. The regulatory filing shows that John Kite now has roughly 0.11% of the Indiana-based company’s market capitalization (total value of the shares outstanding) For additional details of this trade please go to the (SEC)’s report free at your disposal for review here.
Out of 7 analysts covering Kite Realty Group Trust (NYSE:KRG), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $35 is the highest target while $28 is the lowest. The $32 average target is 31.47% above today’s ($24.34) stock price. Kite Realty Group Trust has been the topic of 8 analyst reports since September 3, 2015 according to StockzIntelligence Inc. As per Thursday, December 17, the company rating was downgraded by KeyBanc Capital Markets. The firm earned “Buy” rating on Friday, April 1 by DA Davidson. On Thursday, January 7 the stock rating was downgraded by Robert W. Baird to “Neutral”. The rating was downgraded by Raymond James on Monday, May 2 to “Outperform”. The company was initiated on Thursday, August 25 by BTIG Research. As per Monday, October 31, the company rating was upgraded by Hilliard Lyons. The firm earned “Strong Buy” rating on Thursday, September 3 by Raymond James. The company was initiated on Friday, July 22 by Barclays Capital.
Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.47, from 1.33 in 2016Q1. The ratio worsened, as 20 funds sold all Kite Realty Group Trust shares owned while 65 reduced positions. 33 funds bought stakes while 80 increased positions. They now own 74.24 million shares or 2.34% less from 76.01 million shares in 2016Q1.
State Of Tennessee Treasury Department accumulated 66,543 shares or 0.01% of the stock. Moreover, Baker Ellis Asset Mngmt Llc has 0.07% invested in Kite Realty Group Trust (NYSE:KRG) for 7,950 shares. Strs Ohio accumulated 150,437 shares or 0.02% of the stock. Parametric Associate Lc, a Washington-based fund reported 77,850 shares. Bluecrest accumulated 0.01% or 9,846 shares. Sg Americas Ltd last reported 22,940 shares in the company. First Citizens Comml Bank And Trust last reported 20,146 shares in the company. Wellington Mngmt Gp Ltd Liability Partnership holds 0% of its portfolio in Kite Realty Group Trust (NYSE:KRG) for 374,461 shares. The Ohio-based Huntington Bancorporation has invested 0% in Kite Realty Group Trust (NYSE:KRG). Fund Mgmt has 0.01% invested in the company for 22,400 shares. Private Advisor Group Inc Inc Lc, a New Jersey-based fund reported 20,149 shares. State Bank Of America Corp De accumulated 0% or 529,727 shares. Prudential Financial Incorporated has 0.01% invested in the company for 205,261 shares. Blackrock Inc accumulated 99,606 shares or 0% of the stock. Amp Cap last reported 22,520 shares in the company.
Insider Transactions: Since July 29, 2016, the stock had 0 insider buys, and 3 insider sales for $1.66 million net activity. 33,000 shares were sold by Kite John A, worth $992,808 on Monday, August 1. 16,625 shares with value of $497,930 were sold by Sink Daniel R on Friday, July 29. Another trade for 5,500 shares valued at $166,225 was made by Olinger Thomas R on Monday, August 1.
The stock closed at $24.34 during the last session. It is up 10.81% since April 25, 2016 and is downtrending. It has underperformed by 16.82% the S&P500.
Kite Realty Group Trust is a real estate investment trust. The company has a market cap of $2.01 billion. The Company, through its subsidiary Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States. It currently has negative earnings. The Firm holds interests in approximately three development projects under construction, and over six redevelopment projects.
According to Zacks Investment Research, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development.”
Analysts await Kite Realty Group Trust (NYSE:KRG) to report earnings on February, 2. They expect $0.51 earnings per share, up 2.00% or $0.01 from last year’s $0.5 per share. KRG’s profit will be $42.12M for 11.93 P/E if the $0.51 EPS becomes a reality. After $0.52 actual earnings per share reported by Kite Realty Group Trust for the previous quarter, Wall Street now forecasts -1.92% negative EPS growth.
More notable recent Kite Realty Group Trust (NYSE:KRG) news were published by: Reuters.com which released: “BRIEF-Kite Realty Group Trust declares 5.2 pct increase in quarterly commo..” on November 22, 2016, also Businesswire.com with their article: “Kite Realty Group Trust Declares 5.2% Increase in Quarterly Common Dividend” published on November 22, 2016, Forbes.com published: “Ex-Dividend Reminder: Kite Realty Group Trust, Physicians Realty Trust and ..” on September 30, 2016. More interesting news about Kite Realty Group Trust (NYSE:KRG) were released by: Businesswire.com and their article: “Kite Realty Group Trust Reports Third Quarter Operating Results” published on October 27, 2016 as well as Businesswire.com‘s news article titled: “Kite Realty Group Trust Announces Pricing of Inaugural $300 Million Public ..” with publication date: September 15, 2016.
Kite Realty Group Trust, incorporated on March 29, 2004, is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States. The Firm holds interests in approximately three development projects under construction, and over six redevelopment projects.
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By Louis Casey