Creative Planning Grows Stake in Kite Realty Group Trust (NYSE:KRG)

Creative Planning lifted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 55.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,150 shares of the real estate investment trust’s stock after acquiring an additional 7,206 shares during the period. Creative Planning’s holdings in Kite Realty Group Trust were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new stake in Kite Realty Group Trust during the first quarter worth approximately $42,000. GAMMA Investing LLC raised its stake in Kite Realty Group Trust by 158.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,204 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in Kite Realty Group Trust in the first quarter valued at $52,000. EntryPoint Capital LLC boosted its stake 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 valued at $59,000 after acquiring an additional 1,435 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Kite Realty Group Trust by 203.6% in the 1st quarter. Covestor Ltd now owns 3,212 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 2,154 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $25.97 on Wednesday. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.15. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 99.88, a price-to-earnings-growth ratio of 3.93 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. The company has a 50 day moving average price of $25.77 and a 200 day moving average price of $23.28.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.26 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 4.00%. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s payout ratio is currently 400.00%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on KRG shares. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Friday, August 16th. KeyCorp raised their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Robert W. Baird upped their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Finally, Piper Sandler raised their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Three investment 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. According to data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.