Sanctuary Advisors LLC Makes New Investment in Kite Realty Group Trust (NYSE:KRG)

Sanctuary Advisors LLC purchased a new stake in Kite Realty Group Trust (NYSE:KRG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,250 shares of the real estate investment trust’s stock, valued at approximately $324,000.

Several other hedge funds also recently made changes to their positions in the stock. Land & Buildings Investment Management LLC bought a new position in Kite Realty Group Trust in the 2nd quarter worth about $22,277,000. Vanguard Group Inc. lifted its holdings in shares of Kite Realty Group Trust by 2.7% in the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after buying an additional 881,502 shares in the last quarter. APG Asset Management US Inc. bought a new position in shares of Kite Realty Group Trust in the second quarter valued at approximately $16,665,000. F M Investments LLC purchased a new position in Kite Realty Group Trust during the second quarter valued at approximately $10,164,000. Finally, Lighthouse Investment Partners LLC grew its stake in Kite Realty Group Trust by 157.9% during the second quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock valued at $16,449,000 after acquiring an additional 450,000 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $26.44 on Friday. The stock’s 50-day moving average is $25.90 and its 200 day moving average is $23.36. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 101.69, a P/E/G ratio of 3.93 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 current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, October 9th. 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 dividend yield of 3.93%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 400.00%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $23.00 to $26.00 in a 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 target price for the company in a research report on Friday, August 16th. KeyCorp upped their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Piper Sandler lifted their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Compass Point upped their price objective on shares of 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. 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 company’s stock. According to MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Insider Transactions at Kite Realty Group Trust

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 value of $999,506.00. Following the transaction, the director now owns 732,252 shares in the company, valued at $19,624,353.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

About Kite Realty Group Trust

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.