Quarry LP Buys 1,167 Shares of Kite Realty Group Trust (NYSE:KRG)

Quarry LP boosted its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 108.4% during the second quarter, Holdings Channel reports. The firm owned 2,244 shares of the real estate investment trust’s stock after purchasing an additional 1,167 shares during the quarter. Quarry LP’s holdings in Kite Realty Group Trust were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KRG. Pineridge Advisors LLC purchased a new stake in Kite Realty Group Trust during the 4th quarter valued at $39,000. Fidelis Capital Partners LLC purchased a new stake in Kite Realty Group Trust during the first quarter valued at $42,000. GAMMA Investing LLC lifted its holdings in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,204 shares during the period. SageView Advisory Group LLC purchased a new position in Kite Realty Group Trust in the first quarter worth about $52,000. Finally, EntryPoint Capital LLC boosted its position in Kite Realty Group Trust by 109.6% in the first quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,435 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction dated 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 sale, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $25.92 on Friday. The stock has a market cap of $5.69 billion, a PE ratio of 99.67, a price-to-earnings-growth 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 firm has a fifty day moving average price of $25.60 and a 200-day moving average price of $23.03. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is presently 400.00%.

Analyst Upgrades and Downgrades

KRG has been the subject of several research reports. Piper Sandler upped 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 report on Tuesday, September 3rd. Robert W. Baird upped their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. KeyCorp upped their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Raymond James raised 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 report on Friday, August 16th. Three investment 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’s stock. According to data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.