Charles Schwab Investment Management Inc. Boosts Holdings in Kite Realty Group Trust (NYSE:KRG)

Charles Schwab Investment Management Inc. raised its holdings in Kite Realty Group Trust (NYSE:KRG) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,651,857 shares of the real estate investment trust’s stock after purchasing an additional 173,290 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Kite Realty Group Trust were worth $96,993,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC lifted its stake in Kite Realty Group Trust by 182.1% in the 3rd quarter. Intech Investment Management LLC now owns 65,861 shares of the real estate investment trust’s stock valued at $1,749,000 after buying an additional 42,518 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Kite Realty Group Trust in the third quarter valued at $3,877,000. Quest Partners LLC purchased a new stake in shares of Kite Realty Group Trust in the third quarter valued at $631,000. Thrivent Financial for Lutherans boosted its stake in shares of Kite Realty Group Trust by 53.0% during the third quarter. Thrivent Financial for Lutherans now owns 190,265 shares of the real estate investment trust’s stock valued at $5,053,000 after acquiring an additional 65,881 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Kite Realty Group Trust by 14.3% during the 3rd quarter. Natixis Advisors LLC now owns 69,142 shares of the real estate investment trust’s stock worth $1,836,000 after purchasing an additional 8,645 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Up 1.2 %

Shares of NYSE KRG opened at $27.80 on Wednesday. The stock has a market capitalization of $6.11 billion, a PE ratio of -687.00, a P/E/G ratio of 3.81 and a beta of 1.29. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average of $26.42 and a 200-day moving average of $24.44. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $27.94.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 3.88%. Kite Realty Group Trust’s dividend payout ratio is currently -2,600.00%.

Insider Transactions 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 value of $999,506.00. Following the completion of the sale, the director now owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

KRG has been the topic of a number of recent research reports. Raymond James upgraded shares of 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 report on Friday, August 16th. KeyCorp raised their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their price target 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. Piper Sandler increased their price target 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. Finally, Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. 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 company’s stock. Based on data from MarketBeat, the stock has an average 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.