Inspire Investing LLC Lowers Stock Position in Kite Realty Group Trust (NYSE:KRG)

Inspire Investing LLC decreased its holdings in Kite Realty Group Trust (NYSE:KRG) by 21.8% in the 2nd quarter, Holdings Channel reports. The firm owned 15,819 shares of the real estate investment trust’s stock after selling 4,410 shares during the period. Inspire Investing LLC’s holdings in Kite Realty Group Trust were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $52,746,000. Nomura Asset Management Co. Ltd. lifted its position in Kite Realty Group Trust by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,040 shares of the real estate investment trust’s stock worth $5,990,000 after acquiring an additional 1,400 shares during the period. Hsbc Holdings PLC grew its stake in shares of Kite Realty Group Trust by 28.2% in the 4th quarter. Hsbc Holdings PLC now owns 136,246 shares of the real estate investment trust’s stock valued at $3,118,000 after purchasing an additional 29,983 shares during the last quarter. Evoke Wealth LLC acquired a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $501,000. Finally, Presima Securities ULC raised its stake in shares of Kite Realty Group Trust by 168.2% during the fourth quarter. Presima Securities ULC now owns 121,430 shares of the real estate investment trust’s stock worth $2,776,000 after purchasing an additional 76,150 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Activity at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

Kite Realty Group Trust Trading Down 0.8 %

Shares of KRG opened at $26.33 on Monday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $27.15. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $5.78 billion, a P/E ratio of 101.27, a PEG ratio of 3.97 and a beta of 1.29. The firm’s 50-day moving average is $25.09 and its two-hundred day moving average is $22.69.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.95%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is currently 400.00%.

Analyst Upgrades and Downgrades

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

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.