Kite Realty Group Trust (KRG) Director William E. Bindley Acquires 100,000 Shares

Kite Realty Group Trust (NYSE:KRG) Director William E. Bindley acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $15.06 per share, for a total transaction of $1,506,000.00. Following the purchase, the director now directly owns 85,014 shares of the company’s stock, valued at $1,280,310.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Kite Realty Group Trust (KRG) traded up $0.24 during midday trading on Thursday, reaching $14.88. The company’s stock had a trading volume of 398,252 shares, compared to its average volume of 762,966. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 1.09. The company has a market cap of $1,233.19, a price-to-earnings ratio of 104.57, a PEG ratio of 1.72 and a beta of 0.42. Kite Realty Group Trust has a 1-year low of $13.90 and a 1-year high of $23.59.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.50. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. The business had revenue of $88.90 million during the quarter, compared to analyst estimates of $89.14 million. During the same period in the previous year, the company posted $0.50 EPS. Kite Realty Group Trust’s revenue was up .0% on a year-over-year basis. equities research analysts anticipate that Kite Realty Group Trust will post 2.01 earnings per share for the current year.

Several large investors have recently made changes to their positions in KRG. MetLife Investment Advisors LLC purchased a new position in Kite Realty Group Trust during the 4th quarter worth $764,000. Snow Park Capital Partners LP purchased a new position in Kite Realty Group Trust during the 4th quarter worth $1,960,000. Municipal Employees Retirement System of Michigan grew its stake in Kite Realty Group Trust by 23.2% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 38,630 shares of the real estate investment trust’s stock worth $757,000 after buying an additional 7,270 shares during the last quarter. Macquarie Group Ltd. grew its stake in Kite Realty Group Trust by 9.3% during the 4th quarter. Macquarie Group Ltd. now owns 2,560,852 shares of the real estate investment trust’s stock worth $50,376,000 after buying an additional 217,020 shares during the last quarter. Finally, LPL Financial LLC grew its stake in Kite Realty Group Trust by 62.9% during the 4th quarter. LPL Financial LLC now owns 25,977 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 10,032 shares during the last quarter. Institutional investors and hedge funds own 93.84% of the company’s stock.

KRG has been the subject of several research analyst reports. Zacks Investment Research cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Raymond James Financial restated an “outperform” rating and set a $23.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Capital One Financial reiterated an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. Finally, Bank of America cut Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $20.33.

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About Kite Realty Group Trust

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.

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