Phocas Financial Corp. Takes $3.88 Million Position in Kite Realty Group Trust (NYSE:KRG)

Phocas Financial Corp. purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 145,980 shares of the real estate investment trust's stock, valued at approximately $3,877,000. Phocas Financial Corp. owned approximately 0.07% of Kite Realty Group Trust at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. UMB Bank n.a. lifted its position in shares of 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 buying an additional 950 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 1,204 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Kite Realty Group Trust in the third quarter worth $45,000. Quarry LP grew its stake in Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,167 shares during the period. Finally, EntryPoint Capital LLC increased its position in shares of Kite Realty Group Trust by 109.6% during the 1st quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 1,435 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on KRG. KeyCorp boosted their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. Piper Sandler raised their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Compass Point boosted their price target on shares of 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. Finally, 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 objective for the company in a report on Friday, August 16th. 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $28.86.

Insider Transactions at Kite Realty Group Trust

In related 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 transaction of $999,506.00. Following the transaction, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG traded up $0.29 during midday trading on Tuesday, reaching $27.23. 435,678 shares of the company's stock traded hands, compared to its average volume of 1,590,936. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The company has a market cap of $5.98 billion, a price-to-earnings ratio of -673.75, a P/E/G ratio of 4.07 and a beta of 1.29. The stock has a 50 day moving average of $26.33 and a 200 day moving average of $24.23. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.94.

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 dividend of $0.27 per share. 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 3.97%. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust's payout ratio is currently -2,700.00%.

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.