JPMorgan Chase & Co. Sells 935,695 Shares of Kite Realty Group Trust (NYSE:KRG)

JPMorgan Chase & Co. lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,906,808 shares of the real estate investment trust's stock after selling 935,695 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.51% of Kite Realty Group Trust worth $263,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KRG. UMB Bank n.a. raised its position in shares of Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 950 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Kite Realty Group Trust in the third quarter worth about $39,000. Strategic Investment Solutions Inc. IL bought a new stake in Kite Realty Group Trust during the 3rd quarter worth about $45,000. Quarry LP lifted its position in Kite Realty Group Trust by 108.4% during 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 period. Finally, GAMMA Investing LLC lifted its position in Kite Realty Group Trust by 110.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,135 shares of the real estate investment trust's stock valued at $110,000 after purchasing an additional 2,170 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Trading Up 1.1 %

Shares of KRG stock traded up $0.27 on Tuesday, hitting $25.24. The stock had a trading volume of 1,201,726 shares, compared to its average volume of 1,585,490. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. 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 firm has a market cap of $5.54 billion, a P/E ratio of -631.00, a PEG ratio of 3.81 and a beta of 1.28. The company has a fifty day moving average price of $26.44 and a two-hundred day moving average price of $25.30.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a $0.27 dividend. The ex-dividend date of this dividend 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 dividend yield of 4.28%. Kite Realty Group Trust's payout ratio is currently -2,700.00%.

Analysts Set New Price Targets

KRG has been the subject of a number of recent research reports. Robert W. Baird boosted their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. KeyCorp upped their target price 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. Piper Sandler raised their price target 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. Finally, Compass Point upped their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Three equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.86.

About Kite Realty Group Trust

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.