Hsbc Holdings PLC Has $8.34 Million Position in Kite Realty Group Trust (NYSE:KRG)

Hsbc Holdings PLC grew its holdings in Kite Realty Group Trust (NYSE:KRG) by 82.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,103 shares of the real estate investment trust’s stock after acquiring an additional 169,878 shares during the period. Hsbc Holdings PLC owned 0.17% of Kite Realty Group Trust worth $8,335,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KRG. Norges Bank bought a new position in Kite Realty Group Trust during the fourth quarter valued at about $52,746,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Kite Realty Group Trust by 0.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,040 shares of the real estate investment trust’s stock valued at $5,990,000 after acquiring an additional 1,400 shares in the last quarter. Evoke Wealth LLC acquired a new stake in Kite Realty Group Trust in the 4th quarter worth approximately $501,000. Presima Securities ULC grew its holdings in Kite Realty Group Trust by 168.2% during the fourth quarter. Presima Securities ULC now owns 121,430 shares of the real estate investment trust’s stock valued at $2,776,000 after purchasing an additional 76,150 shares during the last quarter. Finally, Connectus Wealth LLC bought a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $2,137,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $26.58 on Tuesday. The company has a market capitalization of $5.84 billion, a P/E ratio of 102.23, a P/E/G ratio of 3.97 and a beta of 1.29. 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 has a 12 month low of $19.64 and a 12 month high of $27.15. The stock has a 50 day moving average of $25.16 and a two-hundred day moving average of $22.73.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.91%. The ex-dividend date is Wednesday, October 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s payout ratio is 400.00%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KRG. Compass Point raised 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. KeyCorp lifted their price objective 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. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Raymond James raised 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, Piper Sandler increased their price objective 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 research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction dated 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 owns 732,252 shares of the company’s stock, valued at $19,624,353.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

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.