Mirae Asset Global Investments Co. Ltd. Purchases 2,199 Shares of Kite Realty Group Trust (NYSE:KRG)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kite Realty Group Trust (NYSE:KRG) by 34.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,524 shares of the real estate investment trust’s stock after acquiring an additional 2,199 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Kite Realty Group Trust were worth $224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Entropy Technologies LP acquired a new position in Kite Realty Group Trust during the 1st quarter valued at $594,000. Vanguard Group Inc. grew its position in Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after buying an additional 881,502 shares in the last quarter. Boston Partners bought a new position in Kite Realty Group Trust during the first quarter valued at about $752,000. Systematic Financial Management LP lifted its position in shares of Kite Realty Group Trust by 34.0% in the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock worth $15,410,000 after acquiring an additional 174,797 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Kite Realty Group Trust by 118.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock worth $2,784,000 after purchasing an additional 67,542 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $25.80 on Monday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $27.15. The business has a fifty day moving average of $26.08 and a 200-day moving average of $23.79. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.08 and a current ratio of 3.08. The firm has a market cap of $5.67 billion, a PE ratio of -645.00, a price-to-earnings-growth ratio of 3.91 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.27 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is -2,600.00%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KRG shares. 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 research note on Tuesday, August 20th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Piper Sandler boosted their price target on 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 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 research note on Friday, August 16th. Finally, Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three research 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. Based on data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and an average target price of $28.00.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

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.