Orinda Asset Management LLC Buys New Stake in Kite Realty Group Trust (NYSE:KRG)

Orinda Asset Management LLC purchased a new position in Kite Realty Group Trust (NYSE:KRG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the real estate investment trust’s stock, valued at approximately $1,893,000. Kite Realty Group Trust accounts for about 1.5% of Orinda Asset Management LLC’s holdings, making the stock its 24th largest position. Orinda Asset Management LLC owned about 0.12% of Kite Realty Group Trust at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Kite Realty Group Trust by 9,657.3% in the first quarter. BlackRock Inc. now owns 12,336,774 shares of the real estate investment trust’s stock worth $265,241,000 after buying an additional 12,210,338 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Kite Realty Group Trust by 415.9% in the first quarter. Principal Financial Group Inc. now owns 3,411,740 shares of the real estate investment trust’s stock valued at $73,352,000 after buying an additional 2,750,414 shares in the last quarter. Norges Bank bought a new stake in Kite Realty Group Trust during the fourth quarter valued at approximately $19,496,000. Forward Management LLC boosted its stake in Kite Realty Group Trust by 127.7% in the first quarter. Forward Management LLC now owns 1,172,348 shares of the real estate investment trust’s stock valued at $25,205,000 after buying an additional 657,400 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Kite Realty Group Trust by 39.4% in the first quarter. Macquarie Group Ltd. now owns 1,395,128 shares of the real estate investment trust’s stock valued at $29,995,000 after buying an additional 394,143 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Shares of Kite Realty Group Trust (NYSE KRG) traded down 1.80% during mid-day trading on Friday, hitting $20.23. 609,440 shares of the stock traded hands. The company’s 50-day moving average price is $19.67 and its 200 day moving average price is $20.63. The company has a market capitalization of $1.69 billion, a PE ratio of 144.50 and a beta of 0.57. Kite Realty Group Trust has a 1-year low of $17.60 and a 1-year high of $29.62.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $88.42 million. During the same quarter in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Kite Realty Group Trust will post ($0.05) EPS for the current fiscal year.

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Several research firms have recently weighed in on KRG. ValuEngine lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Barclays PLC lowered their price objective on shares of Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Finally, BidaskClub upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Kite Realty Group Trust has a consensus rating of “Buy” and an average price target of $26.86.

Kite Realty Group Trust Company Profile

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.

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

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