Daiwa Securities Group Inc. Grows Stock Position in Kite Realty Group Trust (NYSE:KRG)

Daiwa Securities Group Inc. boosted its stake in Kite Realty Group Trust (NYSE:KRG) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,264 shares of the real estate investment trust’s stock after acquiring an additional 4,631 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Kite Realty Group Trust were worth $1,946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its stake in shares of Kite Realty Group Trust by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock valued at $3,408,000 after buying an additional 484 shares during the last quarter. Marcum Wealth LLC boosted its stake in shares of Kite Realty Group Trust by 1.4% during the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after buying an additional 571 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of Kite Realty Group Trust by 2.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock valued at $629,000 after buying an additional 671 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Kite Realty Group Trust by 4.6% during the 2nd quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 777 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Kite Realty Group Trust by 4.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 22,400 shares of the real estate investment trust’s stock valued at $595,000 after buying an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KRG. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Piper Sandler increased their target price 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. Compass Point increased their target price 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. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, August 16th. Finally, 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. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $27.85 on Friday. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The business’s fifty day moving average price is $26.49 and its two-hundred day moving average price is $24.53. The firm has a market capitalization of $6.12 billion, a PE ratio of -696.25, a P/E/G ratio of 3.81 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 Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 3.88%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,700.00%.

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.