Rush Island Management LP Has $47.11 Million Stake in Kite Realty Group Trust (NYSE:KRG)

Rush Island Management LP decreased its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,773,717 shares of the real estate investment trust's stock after selling 293,629 shares during the quarter. Kite Realty Group Trust makes up 3.6% of Rush Island Management LP's portfolio, making the stock its 10th biggest position. Rush Island Management LP owned 0.81% of Kite Realty Group Trust worth $47,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. UMB Bank n.a. grew its holdings in Kite Realty Group Trust by 819.0% during the 3rd 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 in the last quarter. GAMMA Investing LLC grew its stake in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 1,204 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Kite Realty Group Trust in the third quarter valued at about $45,000. Quarry LP increased its holdings in Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,167 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Kite Realty Group Trust by 42.7% during the second quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust's stock valued at $72,000 after buying an additional 992 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

KRG has been the subject of several research reports. Robert W. Baird lifted their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. Piper Sandler boosted their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Tuesday, September 3rd. Raymond James raised shares of Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price on the stock in a report on Friday, August 16th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Finally, KeyCorp increased 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 note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.86.

Kite Realty Group Trust Stock Performance

Shares of KRG stock traded down $0.10 during trading hours on Thursday, reaching $26.84. The stock had a trading volume of 1,143,671 shares, compared to its average volume of 1,584,877. The firm has a market capitalization of $5.90 billion, a PE ratio of -671.00, a price-to-earnings-growth ratio of 3.90 and a beta of 1.28. The firm has a 50-day simple moving average of $26.54 and a 200-day simple moving average of $24.74. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

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 paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.02%. 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 presently -2,700.00%.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares of the company's stock, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company's stock.

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.