Van ECK Associates Corp Boosts Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Van ECK Associates Corp increased its stake in Kite Realty Group Trust (NYSE:KRG) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,223 shares of the real estate investment trust’s stock after acquiring an additional 1,990 shares during the period. Van ECK Associates Corp’s holdings in Kite Realty Group Trust were worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KRG. Victory Capital Management Inc. boosted its stake in shares of Kite Realty Group Trust by 15.6% in the 4th quarter. Victory Capital Management Inc. now owns 125,844 shares of the real estate investment trust’s stock valued at $2,877,000 after buying an additional 16,991 shares during the period. M&T Bank Corp lifted its stake in Kite Realty Group Trust by 9.6% in the fourth quarter. M&T Bank Corp now owns 35,442 shares of the real estate investment trust’s stock worth $810,000 after acquiring an additional 3,092 shares during the last quarter. Metis Global Partners LLC grew its holdings in Kite Realty Group Trust by 11.8% during the 4th quarter. Metis Global Partners LLC now owns 14,382 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 1,518 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Kite Realty Group Trust by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock valued at $76,448,000 after purchasing an additional 90,897 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at $52,746,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $25.67 on Friday. The stock has a market cap of $5.64 billion, a P/E ratio of 98.73, a P/E/G ratio of 3.99 and a beta of 1.29. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $26.33. The stock has a 50 day moving average of $24.27 and a two-hundred day moving average of $22.32. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.05%. The ex-dividend date is Wednesday, October 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s payout ratio is 400.00%.

Analyst Ratings Changes

A number of equities analysts recently commented on KRG shares. KeyCorp boosted their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Compass Point increased their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Friday, August 16th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Finally, Robert W. Baird raised their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Kite Realty Group Trust Company Profile

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.