Presima Lowers stake in Kite Realty Group Trust (KRG)

Kite Realty Group Trust (KRG) : Presima reduced its stake in Kite Realty Group Trust by 7.1% during the most recent quarter end. The investment management company now holds a total of 1,053,375 shares of Kite Realty Group Trust which is valued at $31,085,096 after selling 80,500 shares in Kite Realty Group Trust , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Kite Realty Group Trust makes up approximately 4.72% of Presima’s portfolio.

Other Hedge Funds, Including , Swiss National Bank boosted its stake in KRG in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 136,700 shares of Kite Realty Group Trust which is valued at $4,034,017. Kite Realty Group Trust makes up approx 0.01% of Swiss National Bank’s portfolio.Checchi Capital Advisers reduced its stake in KRG by selling 394 shares or 46.24% in the most recent quarter. The Hedge Fund company now holds 458 shares of KRG which is valued at $13,571.Bnp Paribas Arbitrage Sa boosted its stake in KRG in the latest quarter, The investment management firm added 14,765 additional shares and now holds a total of 27,012 shares of Kite Realty Group Trust which is valued at $760,928.

Kite Realty Group Trust opened for trading at $29.54 and hit $29.7 on the upside on Monday, eventually ending the session at $29.59, with a gain of 0.27% or 0.08 points. The heightened volatility saw the trading volume jump to 3,48,924 shares. Company has a market cap of $2,467 M.

On the company’s financial health, Kite Realty Group Trust reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.51. The company had revenue of $87.57 million for the quarter, compared to analysts expectations of $87.38 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Kite Realty Group Trust. Kite Realty Group Trust was Downgraded by Hilliard Lyons to ” Neutral” on Aug 1, 2016. Barclays Initiated Kite Realty Group Trust on Jul 22, 2016 to “Overweight”, Price Target of the shares are set at $33.

Kite Realty Group Trust is a full-service vertically integrated real estate company engaged in the ownership and operation acquisition development and redevelopment of neighborhood and community shopping centers in the United States. The Company conducts all of its business through its operating partnership Kite Realty Group L.P. (KRG). The Company held a 98.1% interest in KRG with limited partners owning the remaining 1.9%. The Company owns interests in 118 retail operating properties totaling approximately 23.9 million square feet of gross leasable area (including approximately 7.7 million square feet of non-owned anchor space) located in 26 states. Its retail operating portfolio was 94.8% leased to a diversified retail tenant base with no single retail tenant accounting for more than 3.4% of its total annualized base rent.

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