Los Angeles Capital Management LLC Buys 3,355 Shares of Kite Realty Group Trust (NYSE:KRG)

Los Angeles Capital Management LLC increased its position in Kite Realty Group Trust (NYSE:KRG) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,546 shares of the real estate investment trust’s stock after buying an additional 3,355 shares during the period. Los Angeles Capital Management LLC’s holdings in Kite Realty Group Trust were worth $616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC acquired a new stake in Kite Realty Group Trust in the fourth quarter valued at approximately $39,000. Fidelis Capital Partners LLC bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth $42,000. GAMMA Investing LLC grew its position in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares during the period. SageView Advisory Group LLC bought a new stake in Kite Realty Group Trust during the 1st quarter valued at $52,000. Finally, EntryPoint Capital LLC raised its holdings in Kite Realty Group Trust by 109.6% during the first quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,435 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KRG. Piper Sandler lifted their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Robert W. Baird boosted their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Compass Point increased their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 16th. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.00.

Kite Realty Group Trust Stock Performance

KRG stock opened at $26.83 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. The firm has a market cap of $5.89 billion, a PE ratio of 103.19, a P/E/G ratio of 3.97 and a beta of 1.29. The business has a 50 day moving average of $24.67 and a 200-day moving average of $22.49. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $26.91.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Wednesday, October 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is 400.00%.

Kite Realty Group Trust 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.