Victory Capital Management Inc. Sells 13,087 Shares of Kite Realty Group Trust (NYSE:KRG)

Victory Capital Management Inc. lessened its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,653 shares of the real estate investment trust’s stock after selling 13,087 shares during the period. Victory Capital Management Inc. owned about 0.06% of Kite Realty Group Trust worth $3,231,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Kite Realty Group Trust by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after purchasing an additional 190,380 shares during the period. Millennium Management LLC boosted its holdings in shares of Kite Realty Group Trust by 17.7% in the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock valued at $57,427,000 after purchasing an additional 386,566 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Kite Realty Group Trust by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after purchasing an additional 32,493 shares during the period. American Century Companies Inc. lifted its holdings in Kite Realty Group Trust by 16.6% during the second quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock worth $46,566,000 after buying an additional 295,708 shares during the period. Finally, LSV Asset Management lifted its holdings in Kite Realty Group Trust by 15.8% during the second quarter. LSV Asset Management now owns 1,071,300 shares of the real estate investment trust’s stock worth $23,976,000 after buying an additional 146,300 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the company’s 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 sale, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $27.40 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The stock’s fifty day moving average price is $26.40 and its 200 day moving average price is $24.35. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.94. The company has a market cap of $6.02 billion, a price-to-earnings ratio of -685.00, a PEG ratio of 3.78 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.94%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is presently -2,700.00%.

Analyst Ratings Changes

KRG has been the subject of a number of analyst reports. Piper Sandler upped their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. KeyCorp upped their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. 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 report on Friday, August 16th. Compass Point upped their target price 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, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.86.

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.