Wilmington Savings Fund Society FSB Acquires Shares of 1,463 Kite Realty Group Trust (NYSE:KRG)

Wilmington Savings Fund Society FSB bought a new position in shares of Kite Realty Group Trust (NYSE:KRG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,463 shares of the real estate investment trust’s stock, valued at approximately $39,000.

A number of other large investors also recently modified their holdings of KRG. UMB Bank n.a. raised its holdings in Kite Realty Group Trust by 819.0% during the third 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 during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth about $45,000. Quarry LP lifted its position 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 acquiring an additional 1,167 shares in the last quarter. GAMMA Investing LLC boosted its stake in Kite Realty Group Trust by 110.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,135 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 2,170 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Kite Realty Group Trust during the second quarter valued at approximately $125,000. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KRG shares. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Compass Point boosted 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. Robert W. Baird upped their price objective 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, November 15th. Piper Sandler boosted their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Finally, KeyCorp boosted their price objective on 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.86.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $25.12 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The firm has a market cap of $5.52 billion, a PE ratio of -628.00, a PEG ratio of 3.81 and a beta of 1.28. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The stock’s fifty day moving average price is $26.56 and its two-hundred day moving average price is $25.15.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 4.30%. Kite Realty Group Trust’s dividend payout ratio is -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.