National Bank of Canada FI Purchases Shares of 92,100 Kite Realty Group Trust (NYSE:KRG)

National Bank of Canada FI purchased a new position in Kite Realty Group Trust (NYSE:KRG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 92,100 shares of the real estate investment trust's stock, valued at approximately $2,046,000.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Kite Realty Group Trust during the fourth quarter valued at $52,746,000. Vanguard Group Inc. raised its position in Kite Realty Group Trust by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust's stock worth $728,391,000 after purchasing an additional 881,502 shares during the period. Balyasny Asset Management L.P. lifted its stake in Kite Realty Group Trust by 28.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust's stock worth $71,326,000 after purchasing an additional 693,852 shares during the last quarter. F M Investments LLC bought a new position in shares of Kite Realty Group Trust during the second quarter valued at approximately $10,164,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Kite Realty Group Trust by 430.7% during the first quarter. Daiwa Securities Group Inc. now owns 352,219 shares of the real estate investment trust's stock worth $7,636,000 after purchasing an additional 285,856 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

KRG traded up $0.40 on Thursday, reaching $26.43. 1,269,702 shares of the stock were exchanged, compared to its average volume of 1,608,381. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The company's 50-day moving average price is $24.49 and its 200 day moving average price is $22.42. The firm has a market capitalization of $5.80 billion, a PE ratio of 100.77, a PEG ratio of 3.92 and a beta of 1.29. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $26.45.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 9th. This is a positive change from Kite Realty Group Trust's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 3.93%. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 400.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on KRG shares. 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 target for the company in a report on Friday, August 16th. Robert W. Baird upped their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Piper Sandler lifted their price target 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. KeyCorp boosted their price target on 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. Finally, Compass Point raised their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a "buy" rating in a research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of "Moderate Buy" and a consensus target price of $28.00.

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.