Wilmington Savings Fund Society FSB Makes New $39,000 Investment in Kite Realty Group Trust (NYSE:KRG)

Wilmington Savings Fund Society FSB purchased a new stake in Kite Realty Group Trust (NYSE:KRG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,463 shares of the real estate investment trust’s stock, valued at approximately $39,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Asset Management Inc. purchased a new position in Kite Realty Group Trust during the 3rd quarter valued at about $7,486,000. Versor Investments LP purchased a new position in Kite Realty Group Trust during the third quarter valued at approximately $537,000. Systematic Financial Management LP increased its holdings in Kite Realty Group Trust by 34.0% during the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock worth $15,410,000 after acquiring an additional 174,797 shares during the period. Thrivent Financial for Lutherans lifted its stake in Kite Realty Group Trust by 118.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock worth $2,784,000 after purchasing an additional 67,542 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Kite Realty Group Trust by 105.1% in the 3rd quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock valued at $1,279,000 after purchasing an additional 24,679 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Piper Sandler increased their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Robert W. Baird lifted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. KeyCorp upped their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, Compass Point increased their price target 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. 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 company. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

Kite Realty Group Trust Stock Up 2.6 %

Shares of NYSE KRG opened at $25.12 on Monday. The stock has a market capitalization of $5.52 billion, a P/E ratio of -628.00, a PEG ratio of 3.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The firm’s 50 day simple moving average is $26.56 and its two-hundred day simple moving average is $25.15.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Thursday, January 9th. 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 presently -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.