Covestor Ltd Sells 796 Shares of Kite Realty Group Trust (NYSE:KRG)

Covestor Ltd lessened its position in Kite Realty Group Trust (NYSE:KRG) by 27.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,131 shares of the real estate investment trust’s stock after selling 796 shares during the quarter. Covestor Ltd’s holdings in Kite Realty Group Trust were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KRG. UMB Bank n.a. increased its position in Kite Realty Group Trust by 819.0% during the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 950 shares during the period. GAMMA Investing LLC lifted 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 valued at $44,000 after acquiring an additional 1,204 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Kite Realty Group Trust during the 3rd quarter valued at approximately $45,000. Quarry LP lifted its stake in shares of Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in shares of Kite Realty Group Trust in the 1st quarter valued at $52,000. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on KRG shares. Robert W. Baird boosted 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 report on Wednesday, July 31st. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Friday, August 16th. Piper Sandler boosted their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. KeyCorp boosted their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average price target of $28.43.

Insider Buying and Selling at Kite Realty Group Trust

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 transaction of $999,506.00. Following the sale, the director now owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 4.85 % 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 the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Kite Realty Group Trust Trading Down 1.6 %

Shares of KRG opened at $26.84 on Friday. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $27.94. The firm has a 50-day moving average price of $26.27 and a 200 day moving average price of $24.10. The firm has a market capitalization of $5.90 billion, a P/E ratio of -671.00, a P/E/G ratio of 4.16 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued 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 dividend yield of 4.02%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

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.