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

Charles Schwab Investment Management Inc. grew its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,651,857 shares of the real estate investment trust's stock after purchasing an additional 173,290 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.66% of Kite Realty Group Trust worth $96,993,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KRG. Land & Buildings Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the second quarter worth $22,277,000. APG Asset Management US Inc. acquired a new position in Kite Realty Group Trust during the 2nd quarter worth $16,665,000. F M Investments LLC acquired a new stake in Kite Realty Group Trust in the 2nd quarter valued at about $10,164,000. Lighthouse Investment Partners LLC raised its position in Kite Realty Group Trust by 157.9% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust's stock valued at $16,449,000 after purchasing an additional 450,000 shares in the last quarter. Finally, Millennium Management LLC boosted 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 buying an additional 386,566 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust 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 transaction, the director now directly owns 732,252 shares of the company's stock, valued at $19,624,353.60. The trade was a 4.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company's stock.

Kite Realty Group Trust Stock Performance

KRG opened at $27.80 on Wednesday. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.94. 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 business's 50-day simple moving average is $26.44 and its 200-day simple moving average is $24.49.

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 given a dividend of $0.27 per share. This is a positive change from Kite Realty Group Trust's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 annualized dividend and a yield of 3.88%. Kite Realty Group Trust's payout ratio is -2,600.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KRG shares. Wells Fargo & Company raised shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. KeyCorp lifted their price objective 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. Piper Sandler increased their target price 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 lifted their price target 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. Finally, Compass Point upped their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Three investment 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 company. According to MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.86.

Kite Realty Group Trust 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.