abrdn plc Acquires 3,428 Shares of Kite Realty Group Trust (NYSE:KRG)

abrdn plc raised its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 8.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 44,926 shares of the real estate investment trust’s stock after purchasing an additional 3,428 shares during the quarter. abrdn plc’s holdings in Kite Realty Group Trust were worth $1,193,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. UMB Bank n.a. boosted its holdings in Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 950 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Kite Realty Group Trust during the 3rd quarter worth approximately $45,000. Fidelis Capital Partners LLC bought a new position in Kite Realty Group Trust during the 1st quarter worth approximately $42,000. GAMMA Investing LLC grew its holdings in Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares during the period. Finally, Quarry LP raised its holdings in Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Up 2.8 %

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

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.07%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,600.00%.

Insider Buying and Selling

In other news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This 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 can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KRG has been the subject of several research analyst reports. Piper Sandler boosted 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 report on Tuesday, September 3rd. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research 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 report on Wednesday, September 4th. Finally, KeyCorp upped their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. 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 stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average target price 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.