Kite Realty Group Trust (NYSE:KRG) Holdings Raised by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 51.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,982,182 shares of the real estate investment trust's stock after buying an additional 673,976 shares during the quarter. Franklin Resources Inc. owned approximately 0.90% of Kite Realty Group Trust worth $50,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Kite Realty Group Trust by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust's stock worth $150,865,000 after buying an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Kite Realty Group Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust's stock worth $96,993,000 after purchasing an additional 173,290 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Kite Realty Group Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust's stock valued at $73,442,000 after purchasing an additional 190,380 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Kite Realty Group Trust by 17.7% in the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust's stock valued at $57,427,000 after purchasing an additional 386,566 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Kite Realty Group Trust by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust's stock worth $48,955,000 after purchasing an additional 32,493 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on KRG. Robert W. Baird raised their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Compass Point lifted 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 report on Wednesday, September 4th. KeyCorp increased their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Tuesday, November 12th. Wells Fargo & Company upgraded Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Finally, Piper Sandler upped their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Kite Realty Group Trust has an average rating of "Moderate Buy" and an average target price of $28.86.

Kite Realty Group Trust Stock Down 3.8 %

NYSE:KRG traded down $1.00 on Wednesday, reaching $24.99. The stock had a trading volume of 2,019,113 shares, compared to its average volume of 1,586,018. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The stock has a market cap of $5.49 billion, a P/E ratio of -624.75, a price-to-earnings-growth ratio of 3.81 and a beta of 1.28. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average of $26.60 and a 200 day moving average of $25.09.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed 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. This represents a $1.08 dividend on an annualized basis and a yield of 4.32%. 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. Kite Realty Group Trust's dividend payout ratio (DPR) is -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.