Land & Buildings Investment Management LLC Invests $22.28 Million in Kite Realty Group Trust (NYSE:KRG)

Land & Buildings Investment Management LLC acquired a new stake in Kite Realty Group Trust (NYSE:KRG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 995,400 shares of the real estate investment trust’s stock, valued at approximately $22,277,000. Kite Realty Group Trust comprises about 5.2% of Land & Buildings Investment Management LLC’s investment portfolio, making the stock its 10th biggest holding. Land & Buildings Investment Management LLC owned about 0.45% of Kite Realty Group Trust at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KRG. Bank of Montreal Can boosted its position in Kite Realty Group Trust by 850.5% during the 2nd quarter. Bank of Montreal Can now owns 221,689 shares of the real estate investment trust’s stock worth $4,970,000 after acquiring an additional 198,365 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Kite Realty Group Trust by 118.8% during the second quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock valued at $2,784,000 after purchasing an additional 67,542 shares in the last quarter. Sei Investments Co. lifted its holdings in Kite Realty Group Trust by 9.8% in the second quarter. Sei Investments Co. now owns 147,905 shares of the real estate investment trust’s stock worth $3,310,000 after purchasing an additional 13,182 shares during the period. AE Wealth Management LLC bought a new position in Kite Realty Group Trust in the 2nd quarter valued at about $458,000. Finally, Intech Investment Management LLC acquired a new position in Kite Realty Group Trust during the 2nd quarter valued at about $522,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Up 0.9 %

Shares of NYSE KRG opened at $26.58 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.15. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 102.23, a P/E/G ratio of 3.97 and a beta of 1.29. The business has a fifty day simple moving average of $25.16 and a 200-day simple moving average of $22.73.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change 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 3.91%. Kite Realty Group Trust’s dividend payout ratio is currently 400.00%.

Insiders Place Their Bets

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 sale, the director now owns 732,252 shares in the company, valued at $19,624,353.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

KRG has been the subject of a number of research analyst reports. 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 for the company in a research note on Friday, August 16th. Robert W. Baird lifted 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. Compass Point upped their price objective 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. KeyCorp lifted their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the company 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently 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.