HighTower Advisors LLC Raises Stock Position in Kite Realty Group Trust (NYSE:KRG)

HighTower Advisors LLC raised its holdings in Kite Realty Group Trust (NYSE:KRG) by 42.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,386 shares of the real estate investment trust’s stock after purchasing an additional 6,976 shares during the quarter. HighTower Advisors LLC’s holdings in Kite Realty Group Trust were worth $616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 950 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Kite Realty Group Trust in the 3rd quarter worth approximately $45,000. Quarry LP grew its stake in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the period. Blue Trust Inc. increased its holdings in shares of Kite Realty Group Trust by 42.7% during the 2nd quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 992 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Kite Realty Group Trust by 110.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,135 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 2,170 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $24.49 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. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The firm has a market capitalization of $5.38 billion, a PE ratio of -612.25, a P/E/G ratio of 3.81 and a beta of 1.28. The business’s 50 day moving average price is $26.57 and its 200-day moving average price is $25.08.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.41%. Kite Realty Group Trust’s dividend payout ratio is presently -2,700.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KRG shares. KeyCorp raised their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Robert W. Baird raised their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. 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 research note on Wednesday, September 4th. Finally, Piper Sandler increased their target price 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. 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 stock. According to MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average price target of $28.86.

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.