Kite Realty Group Trust (NYSE:KRG) Shares Sold by Presima Securities ULC

Presima Securities ULC lessened its position in shares of Kite Realty Group Trust (NYSE:KRG) by 23.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,330 shares of the real estate investment trust’s stock after selling 24,800 shares during the quarter. Kite Realty Group Trust comprises approximately 0.5% of Presima Securities ULC’s portfolio, making the stock its 26th largest position. Presima Securities ULC’s holdings in Kite Realty Group Trust were worth $2,187,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its position in Kite Realty Group Trust by 819.0% in the third 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. Fidelis Capital Partners LLC acquired a new stake in shares of Kite Realty Group Trust during the 1st quarter worth about $42,000. GAMMA Investing LLC increased its position in shares of 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 worth $44,000 after purchasing an additional 1,204 shares during the last quarter. Quarry LP raised its holdings in 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 buying an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at about $52,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Up 0.8 %

Shares of NYSE KRG opened at $26.20 on Thursday. The stock has a market cap of $5.75 billion, a P/E ratio of 100.77, a PEG ratio of 3.93 and a beta of 1.29. The business’s fifty day simple moving average is $25.82 and its 200-day simple moving average is $23.30. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $27.15. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 3.97%. 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 currently 400.00%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KRG. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. KeyCorp boosted their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Compass Point raised their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Raymond James upgraded 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. Finally, Piper Sandler raised their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction that occurred on 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 directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Company 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.