Kite Realty Group Trust (NYSE:KRG) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its holdings in Kite Realty Group Trust (NYSE:KRG) by 12.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 315,327 shares of the real estate investment trust’s stock after purchasing an additional 35,721 shares during the quarter. Mutual of America Capital Management LLC owned 0.14% of Kite Realty Group Trust worth $7,057,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. State of Alaska Department of Revenue raised its position in shares of Kite Realty Group Trust by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock worth $2,745,000 after buying an additional 649 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Kite Realty Group Trust by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock valued at $5,973,000 after purchasing an additional 724 shares in the last quarter. United Services Automobile Association increased its position in shares of Kite Realty Group Trust by 4.6% during the 2nd quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 777 shares during the period. UniSuper Management Pty Ltd raised its stake in shares of Kite Realty Group Trust by 1.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock worth $1,352,000 after buying an additional 900 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Kite Realty Group Trust by 42.7% in the 2nd quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 992 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $26.54 on Friday. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15. The stock’s 50-day moving average is $25.03 and its two-hundred day moving average is $22.64. 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 firm has a market cap of $5.83 billion, a P/E ratio of 102.08, a PEG ratio of 3.97 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 3.92%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is currently 400.00%.

Analyst Ratings Changes

A number of research firms recently issued reports on KRG. Piper Sandler lifted 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. Robert W. Baird lifted their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Compass Point increased their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. 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 on the stock in a research report on Friday, August 16th. Finally, KeyCorp increased their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Three research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.00.

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.