Edgestream Partners L.P. Buys Shares of 36,468 Kite Realty Group Trust (NYSE:KRG)

Edgestream Partners L.P. acquired a new stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,468 shares of the real estate investment trust's stock, valued at approximately $969,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Kite Realty Group Trust by 819.0% during the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust's stock worth $28,000 after buying an additional 950 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 1,204 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at approximately $45,000. Quarry LP lifted its stake in Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Kite Realty Group Trust by 42.7% during the second 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 currently owned by institutional investors.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust 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 completion of the transaction, the director now owns 732,252 shares in the company, valued at $19,624,353.60. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. 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 report on Tuesday, September 3rd. Robert W. Baird increased their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Raymond James upgraded Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 price target for the company in a research note on Friday, August 16th. KeyCorp increased their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. Finally, Compass Point lifted their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.86.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock traded down $0.10 during trading hours on Thursday, hitting $26.84. 1,150,440 shares of the company's stock traded hands, compared to its average volume of 1,584,877. The company has a fifty day simple moving average of $26.53 and a 200-day simple moving average of $24.73. 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 stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of -670.00, a PEG ratio of 3.90 and a beta of 1.28. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.02%. This is a boost from Kite Realty Group Trust's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust's payout ratio is presently -2,700.00%.

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.