Eagle Asset Management Inc. Acquires Shares of 272,705 Kite Realty Group Trust (NYSE:KRG)

Eagle Asset Management Inc. bought a new position in Kite Realty Group Trust (NYSE:KRG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 272,705 shares of the real estate investment trust’s stock, valued at approximately $7,486,000. Eagle Asset Management Inc. owned about 0.12% of Kite Realty Group Trust as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of KRG. State of Alaska Department of Revenue lifted its holdings in Kite Realty Group Trust by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock valued at $3,408,000 after acquiring an additional 484 shares during the period. Marcum Wealth LLC lifted its stake in shares of Kite Realty Group Trust by 1.4% in the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 571 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in shares of Kite Realty Group Trust by 2.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock valued at $629,000 after purchasing an additional 671 shares during the period. United Services Automobile Association boosted its holdings in Kite Realty Group Trust by 4.6% during the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 777 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in Kite Realty Group Trust by 4.2% during the third quarter. First Trust Direct Indexing L.P. now owns 22,400 shares of the real estate investment trust’s stock valued at $595,000 after buying an additional 910 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 0.8 %

Shares of NYSE KRG opened at $27.40 on Monday. 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 capitalization of $6.02 billion, a price-to-earnings ratio of -685.00, a price-to-earnings-growth ratio of 3.78 and a beta of 1.29. 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 business has a 50-day moving average of $26.40 and a two-hundred day moving average of $24.37.

Kite Realty Group Trust Increases Dividend

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

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 of the company’s stock, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

KRG has been the topic of a number of analyst reports. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 16th. Piper Sandler raised their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Robert W. Baird increased their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. KeyCorp lifted 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. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.