Capital Investment Advisors LLC Buys New Shares in Kite Realty Group Trust (NYSE:KRG)

Capital Investment Advisors LLC purchased a new stake in shares of Kite Realty Group Trust (NYSE:KRG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,694 shares of the real estate investment trust’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently bought and sold shares of KRG. Marcum Wealth LLC grew its position in shares of Kite Realty Group Trust by 1.4% in the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 571 shares during the period. State of Alaska Department of Revenue grew its holdings in Kite Realty Group Trust by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock worth $2,745,000 after purchasing an additional 649 shares during the period. Retirement Systems of Alabama increased its position in Kite Realty Group Trust by 0.3% during the first quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock worth $5,973,000 after buying an additional 724 shares during the last quarter. United Services Automobile Association raised its stake in Kite Realty Group Trust by 4.6% in the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 777 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in shares of Kite Realty Group Trust by 1.5% in the first quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock valued at $1,352,000 after buying an additional 900 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $26.14 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $27.15. The company’s 50 day moving average price is $25.97 and its two-hundred day moving average price is $23.47. The firm has a market cap of $5.74 billion, a PE ratio of 100.54, a PEG ratio of 3.93 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was 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 (DPR) is 400.00%.

Insider Activity

In related 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 value of $999,506.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. KeyCorp boosted their target price 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 upgraded shares of 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 report on Friday, August 16th. Compass Point raised their target price 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. Robert W. Baird lifted their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Three equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.00.

About Kite Realty Group Trust

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.