Intech Investment Management LLC Takes $522,000 Position in Kite Realty Group Trust (NYSE:KRG)

Intech Investment Management LLC purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 23,343 shares of the real estate investment trust’s stock, valued at approximately $522,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KRG. Vanguard Group Inc. increased its stake in shares of Kite Realty Group Trust by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after purchasing an additional 881,502 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Kite Realty Group Trust by 28.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after buying an additional 693,852 shares during the last quarter. F M Investments LLC bought a new stake in Kite Realty Group Trust in the second quarter valued at approximately $10,164,000. American Century Companies Inc. raised its stake in Kite Realty Group Trust by 16.6% in the second quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock valued at $46,566,000 after buying an additional 295,708 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Kite Realty Group Trust by 430.7% in the first quarter. Daiwa Securities Group Inc. now owns 352,219 shares of the real estate investment trust’s stock valued at $7,636,000 after buying an additional 285,856 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $26.16 on Friday. The firm has a 50-day moving average price of $25.33 and a two-hundred day moving average price of $22.82. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $27.15. The company has a market capitalization of $5.75 billion, a P/E ratio of 100.62, a P/E/G ratio of 4.06 and a beta of 1.29. The company has a quick ratio of 2.08, a current 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 paid a $0.26 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s payout ratio is 384.63%.

Insider Buying and Selling

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. KeyCorp increased their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Piper Sandler increased 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 research report on Tuesday, September 3rd. Compass Point lifted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Robert W. Baird increased their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Raymond James upgraded 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 report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average target price of $28.00.

About Kite Realty Group Trust

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.