Long Pond Capital LP Takes Position in Kite Realty Group Trust (NYSE:KRG)

Long Pond Capital LP purchased a new position in Kite Realty Group Trust (NYSE:KRG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 362,500 shares of the real estate investment trust’s stock, valued at approximately $8,113,000. Long Pond Capital LP owned approximately 0.17% of Kite Realty Group Trust at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KRG. Pineridge Advisors LLC purchased a new stake in Kite Realty Group Trust in the 4th quarter worth approximately $39,000. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust during the first quarter valued at $42,000. GAMMA Investing LLC boosted its stake in Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,204 shares during the period. SageView Advisory Group LLC bought a new position in Kite Realty Group Trust in the 1st quarter worth about $52,000. Finally, EntryPoint Capital LLC raised its holdings in shares of Kite Realty Group Trust by 109.6% in the 1st quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,435 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. 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 on the stock in a research report on Friday, August 16th. Robert W. Baird upped 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 upped 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. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Three research 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 company’s stock. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average target price of $28.00.

Insider Buying and Selling 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 dated Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now owns 732,252 shares in the company, valued at $19,624,353.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $26.16 on Friday. The company has a market capitalization of $5.75 billion, a P/E ratio of 100.62, a PEG ratio of 4.06 and a beta of 1.29. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. The stock 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 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 dividend of $0.26 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio is currently 384.63%.

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.