Cerity Partners LLC Has $1.28 Million Stake in Kite Realty Group Trust (NYSE:KRG)

Cerity Partners LLC raised its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 105.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,150 shares of the real estate investment trust's stock after buying an additional 24,679 shares during the period. Cerity Partners LLC's holdings in Kite Realty Group Trust were worth $1,279,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners bought a new position in shares of Kite Realty Group Trust in the first quarter worth about $752,000. Systematic Financial Management LP grew its stake in Kite Realty Group Trust by 34.0% during the second quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust's stock worth $15,410,000 after buying an additional 174,797 shares in the last quarter. Versor Investments LP bought a new position in shares of Kite Realty Group Trust in the third quarter worth about $537,000. Thrivent Financial for Lutherans increased its position in Kite Realty Group Trust by 118.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust's stock valued at $2,784,000 after purchasing an additional 67,542 shares during the period. Finally, Quest Partners LLC bought a new stake in Kite Realty Group Trust during the 3rd quarter worth approximately $631,000. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Trading Up 0.2 %

Shares of NYSE KRG traded up $0.05 during midday trading on Wednesday, hitting $26.95. The stock had a trading volume of 1,490,234 shares, compared to its average volume of 1,586,734. The company has a fifty day moving average price of $26.53 and a 200 day moving average price of $24.73. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of -673.63, a PEG ratio of 3.76 and a beta of 1.28. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.27 per share. 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.01%. Kite Realty Group Trust's dividend payout ratio (DPR) is -2,600.00%.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the sale, the director now owns 732,252 shares in the company, valued at $19,624,353.60. The trade was a 4.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Piper Sandler boosted their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Compass Point upped their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Raymond James upgraded shares of Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 price objective for the company in a research note on Friday, August 16th. Finally, 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 report on Friday, November 15th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.