ProShare Advisors LLC Lowers Position in Kite Realty Group Trust (NYSE:KRG)

ProShare Advisors LLC reduced its position in shares of Kite Realty Group Trust (NYSE:KRG) by 20.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,542 shares of the real estate investment trust’s stock after selling 10,309 shares during the period. ProShare Advisors LLC’s holdings in Kite Realty Group Trust were worth $885,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in shares of Kite Realty Group Trust by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock valued at $2,745,000 after purchasing an additional 649 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Kite Realty Group Trust by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock valued at $5,973,000 after acquiring an additional 724 shares during the period. 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 worth $398,000 after acquiring an additional 777 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings in shares of Kite Realty Group Trust by 1.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock worth $1,352,000 after acquiring an additional 900 shares during the period. Finally, Blue Trust Inc. increased its stake in Kite Realty Group Trust by 42.7% in the 2nd quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 992 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

KRG has been the topic of a number of analyst reports. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Friday, August 16th. Compass Point raised their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler lifted 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. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, Robert W. Baird boosted their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and an average target price of $28.00.

Insider Buying and Selling

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $26.25 on Friday. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.15. The company has a 50 day moving average price of $25.38 and a 200 day moving average price of $22.85. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 100.96, a price-to-earnings-growth ratio of 4.06 and a beta of 1.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s payout ratio is presently 400.00%.

Kite Realty Group Trust 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.