Intech Investment Management LLC Acquires 42,518 Shares of Kite Realty Group Trust (NYSE:KRG)

Intech Investment Management LLC raised its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 182.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 65,861 shares of the real estate investment trust’s stock after acquiring an additional 42,518 shares during the quarter. Intech Investment Management LLC’s holdings in Kite Realty Group Trust were worth $1,749,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Kite Realty Group Trust by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 137,186 shares of the real estate investment trust’s stock worth $2,975,000 after buying an additional 8,353 shares during the last quarter. Bayesian Capital Management LP boosted its holdings in Kite Realty Group Trust by 22.5% during the first quarter. Bayesian Capital Management LP now owns 36,422 shares of the real estate investment trust’s stock valued at $790,000 after acquiring an additional 6,700 shares during the period. EMC Capital Management bought a new position in shares of Kite Realty Group Trust in the first quarter worth about $208,000. Bluefin Capital Management LLC acquired a new position in shares of Kite Realty Group Trust during the 1st quarter worth about $1,355,000. Finally, Boston Partners bought a new stake in Kite Realty Group Trust during the 1st quarter valued at approximately $752,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KRG. Piper Sandler lifted their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Compass Point increased their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a 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 price objective on the stock in a report on Friday, August 16th. Robert W. Baird increased their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.86.

Kite Realty Group Trust Stock Up 0.3 %

Shares of KRG opened at $27.48 on Tuesday. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average price of $26.40 and a two-hundred day moving average price of $24.40. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -687.00, a P/E/G ratio of 3.81 and a beta of 1.29. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.94.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a $0.27 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 annualized dividend and a yield of 3.93%. Kite Realty Group Trust’s payout ratio is currently -2,600.00%.

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction 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 sale, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

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.