Kite Realty Group Trust (NYSE:KRG) Shares Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division boosted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,390 shares of the real estate investment trust’s stock after buying an additional 1,210 shares during the period. Central Pacific Bank Trust Division’s holdings in Kite Realty Group Trust were worth $187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in Kite Realty Group Trust by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 100,698 shares of the real estate investment trust’s stock valued at $2,254,000 after purchasing an additional 5,304 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Kite Realty Group Trust by 6.4% in the second quarter. Van ECK Associates Corp now owns 33,223 shares of the real estate investment trust’s stock valued at $744,000 after buying an additional 1,990 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Kite Realty Group Trust by 88.0% during the second quarter. Natixis Advisors LLC now owns 60,497 shares of the real estate investment trust’s stock worth $1,354,000 after buying an additional 28,318 shares during the period. Rhumbline Advisers grew its holdings in shares of Kite Realty Group Trust by 0.6% during the second quarter. Rhumbline Advisers now owns 819,913 shares of the real estate investment trust’s stock worth $18,350,000 after buying an additional 4,608 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in Kite Realty Group Trust in the 2nd quarter valued at about $2,046,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock opened at $25.05 on Friday. The company has a market cap of $5.50 billion, a P/E ratio of -626.25, a price-to-earnings-growth ratio of 3.81 and a beta of 1.28. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The business has a fifty day moving average of $26.38 and a two-hundred day moving average of $25.32. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Friday, January 10th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.08 dividend on an annualized basis and a yield of 4.31%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s payout ratio is currently -2,700.00%.

Analysts Set New Price Targets

Several brokerages have weighed in on KRG. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their target price for the company from $31.00 to $27.00 in a research note on Thursday. Robert W. Baird lifted their price objective on shares of 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. Finally, KeyCorp upped their price objective 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. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.43.

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.