Sei Investments Co. Boosts Position in Kite Realty Group Trust (NYSE:KRG)

Sei Investments Co. lifted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,905 shares of the real estate investment trust’s stock after purchasing an additional 13,182 shares during the quarter. Sei Investments Co. owned 0.07% of Kite Realty Group Trust worth $3,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KRG. Hsbc Holdings PLC boosted its stake in Kite Realty Group Trust by 28.2% in the fourth quarter. Hsbc Holdings PLC now owns 136,246 shares of the real estate investment trust’s stock worth $3,118,000 after buying an additional 29,983 shares in the last quarter. Connectus Wealth LLC bought a new stake in Kite Realty Group Trust in the fourth quarter valued at approximately $2,137,000. Verition Fund Management LLC lifted its position in Kite Realty Group Trust by 35.0% in the fourth quarter. Verition Fund Management LLC now owns 707,343 shares of the real estate investment trust’s stock valued at $16,170,000 after purchasing an additional 183,521 shares during the last quarter. Lighthouse Investment Partners LLC lifted its position in Kite Realty Group Trust by 8.6% in the fourth quarter. Lighthouse Investment Partners LLC now owns 440,000 shares of the real estate investment trust’s stock valued at $10,058,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Kite Realty Group Trust by 28.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after purchasing an additional 693,852 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction on 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 owns 732,252 shares in the company, valued at $19,624,353.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

Kite Realty Group Trust Stock Down 0.8 %

NYSE KRG opened at $26.04 on Thursday. The stock’s 50-day moving average price is $25.52 and its 200-day moving average price is $22.98. 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 has a 52 week low of $19.64 and a 52 week high of $27.15. The company has a market capitalization of $5.72 billion, a P/E ratio of 100.15, a price-to-earnings-growth ratio of 4.06 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.04 annualized dividend and a dividend yield of 3.99%. This is a boost 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%.

Wall Street Analyst Weigh In

A number of brokerages recently commented 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 upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. KeyCorp increased their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. 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. Finally, Raymond James raised 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. Three investment 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

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.