Clearbridge Investments LLC Decreases Stock Position in Kite Realty Group Trust (NYSE:KRG)

Clearbridge Investments LLC reduced its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,557 shares of the real estate investment trust’s stock after selling 15,765 shares during the quarter. Clearbridge Investments LLC owned approximately 0.36% of Kite Realty Group Trust worth $17,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pineridge Advisors LLC acquired a new position in shares of Kite Realty Group Trust during the 4th quarter worth approximately $39,000. Fidelis Capital Partners LLC acquired a new position in shares of Kite Realty Group Trust in the first quarter worth $42,000. GAMMA Investing LLC lifted its position in shares of Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,204 shares in the last quarter. Quarry LP boosted its stake in shares of Kite Realty Group Trust by 108.4% during the second 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 during the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in shares of Kite Realty Group Trust during the first quarter valued at $52,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on KRG shares. KeyCorp upped their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Raymond James upgraded 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 report on Friday, August 16th. Compass Point raised their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Piper Sandler upped their target price on 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Insiders Place Their Bets

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction 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 transaction, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $25.92 on Friday. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 99.67, a price-to-earnings-growth ratio of 4.06 and a beta of 1.29. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50-day moving average is $25.60 and its 200-day moving average is $23.03.

Kite Realty Group Trust Increases Dividend

The firm 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. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Wednesday, October 9th. Kite Realty Group Trust’s payout ratio is currently 400.00%.

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.