Kite Realty Group Trust (NYSE:KRG) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in Kite Realty Group Trust (NYSE:KRG) by 42.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,386 shares of the real estate investment trust’s stock after purchasing an additional 6,976 shares during the quarter. HighTower Advisors LLC’s holdings in Kite Realty Group Trust were worth $616,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. purchased a new stake in Kite Realty Group Trust in the 3rd quarter valued at $7,486,000. Versor Investments LP purchased a new stake in shares of Kite Realty Group Trust in the third quarter valued at about $537,000. Systematic Financial Management LP increased its position in Kite Realty Group Trust by 34.0% during the second quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock worth $15,410,000 after purchasing an additional 174,797 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Kite Realty Group Trust by 118.8% during the second 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 during the period. Finally, Cerity Partners LLC raised its stake in Kite Realty Group Trust by 105.1% during the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock worth $1,279,000 after purchasing an additional 24,679 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KRG shares. Piper Sandler raised their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Compass Point lifted their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. 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 note on Friday, November 15th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, KeyCorp upped their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.86.

Kite Realty Group Trust Trading Down 2.0 %

Shares of NYSE KRG opened at $24.49 on Friday. 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 stock has a market capitalization of $5.38 billion, a PE ratio of -612.25, a PEG ratio of 3.81 and a beta of 1.28. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The stock has a fifty day simple moving average of $26.57 and a 200-day simple moving average of $25.08.

Kite Realty Group Trust Increases Dividend

The company 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. 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 4.41%. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s payout ratio 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.