Point72 Asia Singapore Pte. Ltd. Sells 6,862 Shares of Kite Realty Group Trust (NYSE:KRG)

Point72 Asia Singapore Pte. Ltd. cut its position in shares of Kite Realty Group Trust (NYSE:KRG) by 46.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,869 shares of the real estate investment trust’s stock after selling 6,862 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Kite Realty Group Trust were worth $176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC bought a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $39,000. Fidelis Capital Partners LLC bought a new position in Kite Realty Group Trust in the 1st quarter valued at $42,000. GAMMA Investing LLC increased its position in shares of Kite Realty Group Trust by 158.2% during 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 last quarter. Quarry LP raised its stake in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in shares of Kite Realty Group Trust in the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 0.8 %

NYSE:KRG opened at $26.04 on Thursday. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.15. The stock’s fifty day moving average price is $25.52 and its two-hundred day moving average price is $22.98. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $5.72 billion, a P/E ratio of 100.15, a P/E/G ratio of 4.06 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.04 annualized dividend and a yield of 3.99%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 400.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. KeyCorp raised their price objective on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. 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 report on Wednesday, August 28th. Piper Sandler increased their price objective 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. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Friday, August 16th. Finally, Robert W. Baird increased their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Three equities 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.00.

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the 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 sale, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

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.