Point72 Asset Management L.P. Has $2.23 Million Holdings in Kite Realty Group Trust (NYSE:KRG)

Point72 Asset Management L.P. boosted its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 1,822.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,123 shares of the real estate investment trust's stock after purchasing an additional 79,748 shares during the period. Point72 Asset Management L.P.'s holdings in Kite Realty Group Trust were worth $2,234,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Kite Realty Group Trust by 432.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust's stock worth $36,150,000 after acquiring an additional 1,105,539 shares in the last quarter. Land & Buildings Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the 2nd quarter valued at about $22,277,000. APG Asset Management US Inc. purchased a new stake in Kite Realty Group Trust in the 2nd quarter worth approximately $16,665,000. F M Investments LLC acquired a new stake in Kite Realty Group Trust during the second quarter valued at $10,164,000. Finally, Lighthouse Investment Partners LLC grew its stake in Kite Realty Group Trust by 157.9% in the second 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. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 1.3 %

KRG traded down $0.34 during trading on Tuesday, reaching $26.52. 468,085 shares of the company's stock were exchanged, compared to its average volume of 1,575,882. The company's fifty day moving average price is $26.56 and its 200-day moving average price is $24.88. The firm has a market capitalization of $5.83 billion, a PE ratio of -671.25, a P/E/G ratio of 3.91 and a beta of 1.28. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.07%. This is a boost from Kite Realty Group Trust's previous quarterly dividend of $0.26. Kite Realty Group Trust's dividend payout ratio (DPR) is -2,700.00%.

Wall Street Analysts Forecast Growth

KRG has been the subject of several research reports. Wells Fargo & Company upgraded 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. KeyCorp boosted their target price 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. 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 on the stock in a report on Friday, August 16th. Piper Sandler upped their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Finally, Compass Point upped their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.86.

Insiders Place Their Bets

In related news, Director Steven P. Grimes sold 37,295 shares of the business's stock in a transaction that occurred 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

Kite Realty Group Trust Company 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.