Mutual of America Capital Management LLC Has $8.05 Million Stock Position in Kite Realty Group Trust (NYSE:KRG)

Mutual of America Capital Management LLC lowered its stake in Kite Realty Group Trust (NYSE:KRG) by 3.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 303,020 shares of the real estate investment trust’s stock after selling 12,307 shares during the period. Mutual of America Capital Management LLC’s holdings in Kite Realty Group Trust were worth $8,048,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its stake in Kite Realty Group Trust by 819.0% in 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 buying an additional 950 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Kite Realty Group Trust in the 3rd quarter valued at about $45,000. GAMMA Investing LLC grew its stake in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,204 shares during the last quarter. Quarry LP grew its stake 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 last quarter. Finally, EntryPoint Capital LLC grew its stake in Kite Realty Group Trust by 109.6% in the 1st quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 1,435 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

KRG has been the topic of a number of analyst reports. Compass Point increased 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 research report on Wednesday, September 4th. Raymond James upgraded 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. KeyCorp increased their target price 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. Robert W. Baird increased their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $26.00 in a research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus price target of $28.86.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $26.92 on Tuesday. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of -667.25, a P/E/G ratio of 4.07 and a beta of 1.29. The firm’s 50 day simple moving average is $26.31 and its 200 day simple moving average is $24.19. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.94.

Kite Realty Group Trust Increases Dividend

The company 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 is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.01%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,600.00%.

Insider Buying and Selling

In related news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by company insiders.

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.