Kite Realty Group Trust (NYSE:KRG) Shares Acquired by Algert Global LLC

Algert Global LLC grew its position in Kite Realty Group Trust (NYSE:KRG) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,627 shares of the real estate investment trust’s stock after acquiring an additional 2,797 shares during the quarter. Algert Global LLC’s holdings in Kite Realty Group Trust were worth $3,102,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP acquired a new stake in Kite Realty Group Trust in the 1st quarter valued at about $594,000. Vanguard Group Inc. grew its position in shares of Kite Realty Group Trust by 2.7% in the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after purchasing an additional 881,502 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Kite Realty Group Trust by 28.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after purchasing an additional 693,852 shares during the last quarter. Boston Partners purchased a new position in Kite Realty Group Trust during the first quarter worth approximately $752,000. Finally, Daiwa Securities Group Inc. boosted its stake in Kite Realty Group Trust by 430.7% during the first quarter. Daiwa Securities Group Inc. now owns 352,219 shares of the real estate investment trust’s stock worth $7,636,000 after buying an additional 285,856 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. KeyCorp lifted their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Friday, August 16th. Piper Sandler increased their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. 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 report on Wednesday, September 4th. Finally, Robert W. Baird upped their price objective 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $26.26 on Wednesday. The firm has a 50-day simple moving average of $25.43 and a two-hundred day simple moving average of $22.92. The stock has a market cap of $5.77 billion, a PE ratio of 101.00, a P/E/G ratio of 4.06 and a beta of 1.29. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, October 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio (DPR) is 400.00%.

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.