Creative Planning Increases Position in Kite Realty Group Trust (NYSE:KRG)

Creative Planning grew its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 8.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 21,784 shares of the real estate investment trust’s stock after buying an additional 1,634 shares during the period. Creative Planning’s holdings in Kite Realty Group Trust were worth $579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new stake in shares of Kite Realty Group Trust during the first quarter valued at approximately $42,000. Mutual of America Capital Management LLC lifted its holdings in shares of Kite Realty Group Trust by 17.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 279,606 shares of the real estate investment trust’s stock worth $6,062,000 after buying an additional 42,457 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Kite Realty Group Trust during the first quarter valued at $131,000. Geneos Wealth Management Inc. increased its stake in shares of Kite Realty Group Trust by 14.0% during the first quarter. Geneos Wealth Management Inc. now owns 9,225 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 1,136 shares during the period. Finally, Texas Permanent School Fund Corp lifted its stake in Kite Realty Group Trust by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 192,005 shares of the real estate investment trust’s stock worth $4,163,000 after acquiring an additional 2,486 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $26.51 on Tuesday. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of -662.75, a price-to-earnings-growth ratio of 3.91 and a beta of 1.29. The company has a 50 day moving average price of $26.09 and a 200-day moving average price of $23.83. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 2.08. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.15.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is -2,600.00%.

Wall Street Analysts Forecast Growth

KRG has been the topic of a number of research reports. 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 report on Friday, August 16th. Compass Point boosted their price objective 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 increased their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, Piper Sandler raised their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Insider Activity at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the business’s 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 completion of the sale, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

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.