SG Americas Securities LLC Has $1.45 Million Position in Kite Realty Group Trust (NYSE:KRG)

SG Americas Securities LLC grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 113.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,546 shares of the real estate investment trust’s stock after purchasing an additional 28,962 shares during the quarter. SG Americas Securities LLC’s holdings in Kite Realty Group Trust were worth $1,449,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KRG. Balyasny Asset Management L.P. boosted its position in Kite Realty Group Trust by 28.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after buying an additional 693,852 shares during the period. Pineridge Advisors LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter valued at $39,000. Creekmur Asset Management LLC acquired a new position in shares of Kite Realty Group Trust during the fourth quarter worth $107,000. Vanguard Group Inc. lifted its holdings in shares of Kite Realty Group Trust by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 32,715,871 shares of the real estate investment trust’s stock worth $747,885,000 after purchasing an additional 344,226 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of Kite Realty Group Trust in the fourth quarter worth $314,000. 90.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on KRG shares. Robert W. Baird raised their target price on 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. 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 research report on Wednesday, September 4th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. 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 target for the company in a report on Friday, August 16th. Finally, Piper Sandler upped their price objective 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.00.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $25.88 on Wednesday. The firm has a market capitalization of $5.68 billion, a P/E ratio of 99.54, a P/E/G ratio of 4.06 and a beta of 1.29. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $27.15. The company has a fifty day moving average of $25.64 and a 200-day moving average of $23.13. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Wednesday, October 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is 400.00%.

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.