Point72 Hong Kong Ltd Boosts Stake in Kite Realty Group Trust (NYSE:KRG)

Point72 Hong Kong Ltd raised its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 334.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,161 shares of the real estate investment trust's stock after acquiring an additional 18,596 shares during the period. Point72 Hong Kong Ltd's holdings in Kite Realty Group Trust were worth $642,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KRG. Price T Rowe Associates Inc. MD lifted its stake in shares of Kite Realty Group Trust by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 137,186 shares of the real estate investment trust's stock worth $2,975,000 after acquiring an additional 8,353 shares during the period. Boston Partners purchased a new position in shares of Kite Realty Group Trust in the 1st quarter valued at about $752,000. GAMMA Investing LLC increased its holdings in shares of Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 1,204 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Kite Realty Group Trust by 13.4% in the 2nd quarter. SG Americas Securities LLC now owns 25,584 shares of the real estate investment trust's stock valued at $573,000 after purchasing an additional 3,014 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Kite Realty Group Trust by 15.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,372 shares of the real estate investment trust's stock valued at $478,000 after purchasing an additional 2,916 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Trading Down 0.8 %

Shares of NYSE KRG traded down $0.23 during midday trading on Tuesday, reaching $26.90. 1,864,485 shares of the stock were exchanged, compared to its average volume of 1,585,666. The company has a market capitalization of $5.91 billion, a P/E ratio of -672.50, a P/E/G ratio of 3.76 and a beta of 1.28. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average price of $26.53 and a 200-day moving average price of $24.71.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, January 9th. 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 4.01%. Kite Realty Group Trust's payout ratio is -2,600.00%.

Insider Transactions at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the company's 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 transaction, the director now owns 732,252 shares of the company's stock, valued at $19,624,353.60. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KRG shares. Robert W. Baird increased their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Friday, November 15th. KeyCorp increased their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an "overweight" rating in a 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 for the company in a report on Friday, August 16th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Finally, Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.86.

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.