Sumitomo Mitsui Trust Group Inc. Sells 17,783 Shares of Kite Realty Group Trust (NYSE:KRG)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Kite Realty Group Trust (NYSE:KRG) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 425,695 shares of the real estate investment trust’s stock after selling 17,783 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Kite Realty Group Trust worth $11,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of KRG. UMB Bank n.a. lifted its position in shares of 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 worth $28,000 after buying an additional 950 shares in the last quarter. GAMMA Investing LLC lifted 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 buying an additional 1,204 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $45,000. Quarry LP lifted its position in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,167 shares in the last quarter. Finally, EntryPoint Capital LLC raised its holdings in shares of 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 worth $59,000 after purchasing an additional 1,435 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $26.69 on Monday. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $27.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The company has a market capitalization of $5.86 billion, a P/E ratio of -667.25, a P/E/G ratio of 4.07 and a beta of 1.29. The company has a fifty day moving average of $26.31 and a 200-day moving average of $24.17.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust’s payout ratio is currently -2,600.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KRG shares. Piper Sandler lifted 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. Compass Point lifted 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. 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 on the stock in a report on Friday, August 16th. KeyCorp lifted 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, November 12th. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.86.

Insider Transactions at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction 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 completion of the sale, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Kite Realty Group Trust 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.