Sorin Capital Management Lowered Its Stake in Kite Realty Group Trust (KRG) as Stock Price Declined; Brookfield Asset Management Has Increased Position in Simon Ppty Group New (SPG) by $73.87 Million

April 17, 2018 - By Darrin Black

Kite Realty Group Trust (NYSE:KRG) Logo

Brookfield Asset Management Inc increased its stake in Simon Ppty Group Inc New (SPG) by 14.34% based on its latest 2017Q4 regulatory filing with the SEC. Brookfield Asset Management Inc bought 432,000 shares as the company’s stock declined 9.94% with the market. The hedge fund held 3.44 million shares of the consumer services company at the end of 2017Q4, valued at $591.44M, up from 3.01M at the end of the previous reported quarter. Brookfield Asset Management Inc who had been investing in Simon Ppty Group Inc New for a number of months, seems to be bullish on the $54.93B market cap company. The stock increased 1.04% or $1.59 during the last trading session, reaching $153.87. About 679,797 shares traded. Simon Property Group, Inc. (NYSE:SPG) has declined 9.44% since April 17, 2017 and is downtrending. It has underperformed by 20.99% the S&P500.

Sorin Capital Management Llc decreased its stake in Kite Realty Group Trust (KRG) by 7.46% based on its latest 2017Q4 regulatory filing with the SEC. Sorin Capital Management Llc sold 71,938 shares as the company’s stock declined 22.72% with the market. The institutional investor held 892,869 shares of the real estate investment trusts company at the end of 2017Q4, valued at $17.50 million, down from 964,807 at the end of the previous reported quarter. Sorin Capital Management Llc who had been investing in Kite Realty Group Trust for a number of months, seems to be less bullish one the $1.29B market cap company. The stock increased 0.60% or $0.09 during the last trading session, reaching $15.09. About 260,195 shares traded. Kite Realty Group Trust (NYSE:KRG) has declined 28.57% since April 17, 2017 and is downtrending. It has underperformed by 40.12% the S&P500.

Among 21 analysts covering Simon Property Group (NYSE:SPG), 14 have Buy rating, 0 Sell and 7 Hold. Therefore 67% are positive. Simon Property Group had 68 analyst reports since July 21, 2015 according to SRatingsIntel. On Wednesday, July 22 the stock rating was initiated by Canaccord Genuity with “Buy”. Jefferies maintained the stock with “Buy” rating in Monday, February 12 report. Evercore downgraded Simon Property Group, Inc. (NYSE:SPG) on Monday, November 16 to “Hold” rating. The stock of Simon Property Group, Inc. (NYSE:SPG) earned “Hold” rating by RBC Capital Markets on Wednesday, January 31. Jefferies maintained the shares of SPG in report on Friday, October 27 with “Buy” rating. The stock of Simon Property Group, Inc. (NYSE:SPG) earned “Buy” rating by Jefferies on Wednesday, January 31. The stock of Simon Property Group, Inc. (NYSE:SPG) earned “Hold” rating by SunTrust on Friday, October 27. Deutsche Bank maintained the shares of SPG in report on Wednesday, August 17 with “Buy” rating. The rating was maintained by Jefferies with “Buy” on Wednesday, August 23. CFRA upgraded the shares of SPG in report on Thursday, October 12 to “Buy” rating.

Brookfield Asset Management Inc, which manages about $13.20 billion and $21.38 billion US Long portfolio, decreased its stake in Edison Intl (NYSE:EIX) by 1.04M shares to 1.26 million shares, valued at $79.55 million in 2017Q4, according to the filing. It also reduced its holding in Cheniere Energy Inc (NYSEMKT:LNG) by 86,200 shares in the quarter, leaving it with 540,100 shares, and cut its stake in Rice Midstream Partners Lp.

Investors sentiment increased to 0.99 in 2017 Q4. Its up 0.01, from 0.98 in 2017Q3. It is positive, as 50 investors sold SPG shares while 204 reduced holdings. 74 funds opened positions while 178 raised stakes. 293.74 million shares or 1.11% less from 297.03 million shares in 2017Q3 were reported. Comerica Savings Bank, Michigan-based fund reported 88,485 shares. 113,484 are owned by Pinebridge Invs Limited Partnership. Mogy Joel R Counsel stated it has 18,015 shares or 0.48% of all its holdings. Smith Asset Mngmt Lp owns 40,822 shares or 0.22% of their US portfolio. Rafferty Asset Mngmt stated it has 67,963 shares or 0.2% of all its holdings. Vantage Advsr Ltd reported 0% in Simon Property Group, Inc. (NYSE:SPG). New York-based Tiaa Cref Mngmt Ltd Company has invested 0.14% in Simon Property Group, Inc. (NYSE:SPG). Commonwealth Natl Bank Of Australia holds 523,634 shares or 0.88% of its portfolio. Hl Financial Svcs Ltd Llc owns 5,160 shares. Adelante Capital Mgmt Ltd Liability reported 1.02 million shares. Architects reported 0% in Simon Property Group, Inc. (NYSE:SPG). Ftb Advisors holds 859 shares or 0.01% of its portfolio. Benjamin F Edwards And Co Incorporated reported 0% in Simon Property Group, Inc. (NYSE:SPG). Webster National Bank & Trust N A holds 0.01% or 384 shares. Eagle Asset accumulated 0.21% or 243,722 shares.

Since December 18, 2017, it had 4 insider buys, and 1 insider sale for $1.48 million activity. $96,690 worth of Kite Realty Group Trust (NYSE:KRG) was bought by WURTZEBACH CHARLES H on Tuesday, February 13. Shares for $1.51M were bought by BINDLEY WILLIAM E. Kite John A also sold $341,530 worth of Kite Realty Group Trust (NYSE:KRG) shares. Daniels Lee A had bought 1,000 shares worth $14,650 on Tuesday, February 13.

Sorin Capital Management Llc, which manages about $829.38 million and $312.87 million US Long portfolio, upped its stake in Ishares Tr (Call) (SPY) by 607,300 shares to 750,000 shares, valued at $200.14 million in 2017Q4, according to the filing.

Analysts await Kite Realty Group Trust (NYSE:KRG) to report earnings on April, 25 after the close. They expect $0.48 EPS, down 5.88% or $0.03 from last year’s $0.51 per share. KRG’s profit will be $41.07M for 7.86 P/E if the $0.48 EPS becomes a reality. After $0.50 actual EPS reported by Kite Realty Group Trust for the previous quarter, Wall Street now forecasts -4.00% negative EPS growth.

Investors sentiment increased to 1.36 in Q4 2017. Its up 0.18, from 1.18 in 2017Q3. It improved, as 14 investors sold KRG shares while 61 reduced holdings. 32 funds opened positions while 70 raised stakes. 74.98 million shares or 1.45% less from 76.09 million shares in 2017Q3 were reported. Cetera Advsrs Lc invested in 11,565 shares or 0.01% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) has 0.01% invested in Kite Realty Group Trust (NYSE:KRG) for 41,560 shares. The North Carolina-based Commercial Bank Of America De has invested 0% in Kite Realty Group Trust (NYSE:KRG). Ny State Common Retirement Fund has invested 0% in Kite Realty Group Trust (NYSE:KRG). United Kingdom-based Barclays Public Ltd Com has invested 0% in Kite Realty Group Trust (NYSE:KRG). Morgan Stanley reported 0% of its portfolio in Kite Realty Group Trust (NYSE:KRG). Indexiq Ltd holds 92,688 shares. Aperio Ltd Liability Company invested in 30,535 shares. Nomura Asset Mgmt holds 0.01% of its portfolio in Kite Realty Group Trust (NYSE:KRG) for 48,000 shares. State Board Of Administration Of Florida Retirement accumulated 25,121 shares. Northwestern Mutual Wealth Mgmt reported 1,412 shares or 0% of all its holdings. Parallax Volatility Advisers Limited Partnership has invested 0% in Kite Realty Group Trust (NYSE:KRG). State Street holds 0.01% or 3.35 million shares in its portfolio. Asset Mngmt One has invested 0.01% in Kite Realty Group Trust (NYSE:KRG). Amp Capital Limited holds 24,669 shares.

Simon Property Group, Inc. (NYSE:SPG) Institutional Positions Chart

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