Kite Realty Group Trust (NYSE:KRG) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp increased its position in shares of Kite Realty Group Trust (NYSE:KRG) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,436 shares of the real estate investment trust’s stock after purchasing an additional 466 shares during the period. Fifth Third Bancorp’s holdings in Kite Realty Group Trust were worth $465,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its stake in Kite Realty Group Trust by 819.0% during the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 950 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Kite Realty Group Trust during the 3rd quarter worth $39,000. Strategic Investment Solutions Inc. IL purchased a new position in Kite Realty Group Trust in the 3rd quarter valued at approximately $45,000. Quarry LP raised its stake in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,167 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,080 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Up 1.2 %

Kite Realty Group Trust stock opened at $23.50 on Friday. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of -587.55, a P/E/G ratio of 3.57 and a beta of 1.29. The company has a 50 day moving average price of $25.21 and a 200 day moving average price of $25.51. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.43). Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. The company had revenue of $207.25 million for the quarter, compared to analysts’ expectations of $210.39 million. During the same period in the previous year, the firm posted $0.51 earnings per share. Research analysts forecast that Kite Realty Group Trust will post 2.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Robert W. Baird lifted their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Wells Fargo & Company lowered their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, KeyCorp upped their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.13.

About Kite Realty Group Trust

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.