Lighthouse Investment Partners LLC Grows Position in Kite Realty Group Trust (NYSE:KRG)

Lighthouse Investment Partners LLC boosted its holdings in Kite Realty Group Trust (NYSE:KRG) by 157.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 735,000 shares of the real estate investment trust’s stock after acquiring an additional 450,000 shares during the quarter. Kite Realty Group Trust comprises approximately 0.7% of Lighthouse Investment Partners LLC’s portfolio, making the stock its 24th biggest holding. Lighthouse Investment Partners LLC owned about 0.33% of Kite Realty Group Trust worth $16,449,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KRG. Pineridge Advisors LLC purchased a new position in Kite Realty Group Trust in the fourth quarter worth $39,000. Fidelis Capital Partners LLC acquired a new stake in Kite Realty Group Trust in the first quarter valued at $42,000. GAMMA Investing LLC grew its holdings in Kite Realty Group Trust by 158.2% in the second 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 last quarter. SageView Advisory Group LLC acquired a new stake in Kite Realty Group Trust in the first quarter valued at $52,000. Finally, EntryPoint Capital LLC grew its holdings in Kite Realty Group Trust by 109.6% in the first quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,435 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on KRG. Robert W. Baird upped their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Piper Sandler upped their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. KeyCorp upped their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, 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 research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Kite Realty Group Trust Stock Down 2.1 %

KRG opened at $26.16 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 $5.75 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 52 week low of $19.64 and a 52 week high of $27.15. The business’s fifty day simple moving average is $25.33 and its 200 day simple moving average is $22.82.

Kite Realty Group Trust Increases Dividend

The firm also recently declared 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 3.98%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 384.63%.

Insiders Place Their Bets

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the sale, 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 filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

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.