Kite Realty Group Trust (NYSE:KRG) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its stake in Kite Realty Group Trust (NYSE:KRG) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 265,191 shares of the real estate investment trust’s stock after selling 15,419 shares during the quarter. Great Lakes Advisors LLC owned about 0.12% of Kite Realty Group Trust worth $5,935,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its stake in shares of Kite Realty Group Trust by 13.9% in the second quarter. Los Angeles Capital Management LLC now owns 27,546 shares of the real estate investment trust’s stock valued at $616,000 after purchasing an additional 3,355 shares during the period. Arizona State Retirement System boosted its position in Kite Realty Group Trust by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 61,479 shares of the real estate investment trust’s stock valued at $1,376,000 after buying an additional 1,186 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Kite Realty Group Trust by 6.3% during the second quarter. Victory Capital Management Inc. now owns 134,740 shares of the real estate investment trust’s stock valued at $3,015,000 after acquiring an additional 7,932 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Kite Realty Group Trust during the second quarter worth about $2,046,000. Finally, Rhumbline Advisers lifted its stake in shares of Kite Realty Group Trust by 0.6% in the second quarter. Rhumbline Advisers now owns 819,913 shares of the real estate investment trust’s stock worth $18,350,000 after acquiring an additional 4,608 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 0.8 %

Kite Realty Group Trust stock opened at $25.67 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $26.33. The firm’s 50-day moving average is $24.27 and its 200-day moving average is $22.32. The company has a market cap of $5.64 billion, a P/E ratio of 98.73, a PEG ratio of 3.92 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be paid a $0.26 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, October 9th. Kite Realty Group Trust’s payout ratio is presently 384.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KRG shares. Compass Point raised their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. 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 stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. KeyCorp increased their price objective on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler upped their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average target price of $28.00.

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.