Inspire Investing LLC Lowers Stake in Kite Realty Group Trust (NYSE:KRG)

Inspire Investing LLC decreased its position in Kite Realty Group Trust (NYSE:KRG) by 21.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,819 shares of the real estate investment trust’s stock after selling 4,410 shares during the quarter. Inspire Investing LLC’s holdings in Kite Realty Group Trust were worth $354,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in shares of Kite Realty Group Trust by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock valued at $2,745,000 after buying an additional 649 shares during the period. Retirement Systems of Alabama increased its stake in Kite Realty Group Trust by 0.3% during the first quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock worth $5,973,000 after purchasing an additional 724 shares during the period. United Services Automobile Association lifted its position in shares of Kite Realty Group Trust by 4.6% during the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 777 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of Kite Realty Group Trust by 1.5% in the first quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock valued at $1,352,000 after purchasing an additional 900 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Kite Realty Group Trust by 42.7% in the second quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 992 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Down 0.8 %

Shares of NYSE KRG opened at $26.33 on Monday. The business has a 50-day moving average of $25.09 and a two-hundred day moving average of $22.69. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 101.27, a price-to-earnings-growth ratio of 3.97 and a beta of 1.29. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.95%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio is 400.00%.

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 that occurred 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 owns 732,252 shares in the company, valued at approximately $19,624,353.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KRG. KeyCorp increased their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Compass Point lifted their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. 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. Robert W. Baird increased their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.