Chartwell Investment Partners LLC Decreases Position in Kite Realty Group Trust (NYSE:KRG)

Chartwell Investment Partners LLC lowered its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,603 shares of the real estate investment trust's stock after selling 39,769 shares during the period. Chartwell Investment Partners LLC owned approximately 0.18% of Kite Realty Group Trust worth $10,719,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KRG. State of New Jersey Common Pension Fund D raised its stake in shares of Kite Realty Group Trust by 7.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 225,110 shares of the real estate investment trust's stock valued at $5,979,000 after acquiring an additional 15,000 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in Kite Realty Group Trust during the third quarter valued at approximately $203,000. Atria Investments Inc acquired a new position in shares of Kite Realty Group Trust in the third quarter worth about $216,000. Van ECK Associates Corp raised its stake in shares of Kite Realty Group Trust by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 37,319 shares of the real estate investment trust's stock worth $974,000 after buying an additional 4,096 shares during the period. Finally, US Bancorp DE increased its position in Kite Realty Group Trust by 10.4% during the third quarter. US Bancorp DE now owns 50,397 shares of the real estate investment trust's stock worth $1,339,000 after purchasing an additional 4,734 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Up 0.1 %

KRG traded up $0.04 during trading hours on Monday, hitting $27.49. 497,264 shares of the company's stock were exchanged, compared to its average volume of 1,599,560. The stock's 50-day moving average is $26.18 and its two-hundred day moving average is $23.99. 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 $27.94. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -686.25, a PEG ratio of 4.19 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business 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 dividend yield of 3.93%. Kite Realty Group Trust's payout ratio is -2,600.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KRG shares. Piper Sandler increased their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 3rd. Robert W. Baird raised their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Raymond James raised shares of Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 price target on the stock in a research note on Friday, August 16th. 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 report on Wednesday, September 4th. Finally, KeyCorp increased their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Insider Buying and Selling

In related 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 transaction of $999,506.00. Following the completion of the sale, the director now owns 732,252 shares of the company's stock, valued at approximately $19,624,353.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

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.