Quantbot Technologies LP Purchases New Position in Kite Realty Group Trust (NYSE:KRG)

Quantbot Technologies LP purchased a new position in Kite Realty Group Trust (NYSE:KRG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 27,423 shares of the real estate investment trust’s stock, valued at approximately $728,000.

A number of other institutional investors also recently bought and sold shares of KRG. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kite Realty Group Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock valued at $96,993,000 after buying an additional 173,290 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Kite Realty Group Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after acquiring an additional 190,380 shares in the last quarter. Millennium Management LLC grew its holdings in Kite Realty Group Trust by 17.7% in the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after purchasing an additional 386,566 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Kite Realty Group Trust by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after purchasing an additional 32,493 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Kite Realty Group Trust by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock worth $46,566,000 after buying an additional 295,708 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Insider Transactions at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the 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 completion of the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Down 1.6 %

KRG stock opened at $27.13 on Tuesday. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The company has a market cap of $5.96 billion, a price-to-earnings ratio of -678.25, a P/E/G ratio of 3.83 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The business’s 50-day moving average is $26.52 and its two-hundred day moving average is $24.67.

Kite Realty Group Trust Increases Dividend

The firm also recently declared 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 an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 3.98%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently -2,700.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price target 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. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Friday, August 16th. Compass Point lifted their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, KeyCorp upped their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

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.