The Manufacturers Life Insurance Company Sells 8,375 Shares of Kite Realty Group Trust (NYSE:KRG)

The Manufacturers Life Insurance Company decreased its position in Kite Realty Group Trust (NYSE:KRG) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,303 shares of the real estate investment trust’s stock after selling 8,375 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of Kite Realty Group Trust worth $6,834,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KRG. Land & Buildings Investment Management LLC bought a new position in Kite Realty Group Trust during the second quarter valued at about $22,277,000. APG Asset Management US Inc. bought a new position in Kite Realty Group Trust during the second quarter valued at about $16,665,000. F M Investments LLC bought a new position in Kite Realty Group Trust during the second quarter valued at about $10,164,000. Lighthouse Investment Partners LLC grew its position in Kite Realty Group Trust by 157.9% during the second quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock valued at $16,449,000 after buying an additional 450,000 shares during the period. Finally, Millennium Management LLC grew its position in Kite Realty Group Trust by 17.7% during the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock valued at $57,427,000 after buying an additional 386,566 shares during the period. Institutional investors own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KRG shares. Raymond James upgraded 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. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Compass Point increased their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Robert W. Baird increased their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, KeyCorp increased their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Three equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.86.

Kite Realty Group Trust Trading Up 0.2 %

Shares of Kite Realty Group Trust stock opened at $26.95 on Thursday. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The company has a market cap of $5.92 billion, a price-to-earnings ratio of -673.63, a PEG ratio of 3.76 and a beta of 1.28. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $26.53 and its 200-day moving average price is $24.73.

Kite Realty Group Trust Increases Dividend

The company 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 $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.01%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is presently -2,600.00%.

Insider Transactions at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the firm’s 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 sale, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This trade 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 through the SEC website. Insiders own 2.00% of the company’s stock.

About Kite Realty Group Trust

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.