Eagle Asset Management Inc. Purchases Shares of 272,705 Kite Realty Group Trust (NYSE:KRG)

Eagle Asset Management Inc. bought a new position in Kite Realty Group Trust (NYSE:KRG) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 272,705 shares of the real estate investment trust’s stock, valued at approximately $7,486,000.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Kite Realty Group Trust by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock worth $96,993,000 after acquiring an additional 173,290 shares in the last quarter. Intech Investment Management LLC raised its holdings in Kite Realty Group Trust by 182.1% in the third quarter. Intech Investment Management LLC now owns 65,861 shares of the real estate investment trust’s stock valued at $1,749,000 after acquiring an additional 42,518 shares in the last quarter. Phocas Financial Corp. bought a new position in Kite Realty Group Trust during the 3rd quarter valued at $3,877,000. Quest Partners LLC bought a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth about $631,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Kite Realty Group Trust by 53.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 190,265 shares of the real estate investment trust’s stock valued at $5,053,000 after purchasing an additional 65,881 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the company’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 completion of the sale, the director now owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

KRG has been the subject of a number of research reports. Piper Sandler lifted their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Robert W. Baird upped their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Compass Point lifted their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Friday, August 16th. 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 company from $23.00 to $26.00 in a report on Wednesday, August 28th. Three investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.86.

Kite Realty Group Trust Stock Up 0.8 %

KRG stock opened at $27.40 on Monday. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The firm’s 50-day simple moving average is $26.40 and its 200 day simple moving average is $24.37. The stock has a market cap of $6.02 billion, a PE ratio of -685.00, a price-to-earnings-growth ratio of 3.78 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 $27.94.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s payout ratio is -2,700.00%.

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.