Quantbot Technologies LP Makes New $728,000 Investment in Kite Realty Group Trust (NYSE:KRG)

Quantbot Technologies LP acquired a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,423 shares of the real estate investment trust's stock, valued at approximately $728,000.

Other hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its holdings in Kite Realty Group Trust by 6.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 73,264 shares of the real estate investment trust's stock worth $1,946,000 after acquiring an additional 4,631 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Kite Realty Group Trust by 105.1% during the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust's stock valued at $1,279,000 after purchasing an additional 24,679 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Kite Realty Group Trust by 58.6% in the third quarter. Citigroup Inc. now owns 227,242 shares of the real estate investment trust's stock valued at $6,036,000 after purchasing an additional 83,963 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Kite Realty Group Trust in the 3rd quarter worth approximately $7,486,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Kite Realty Group Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust's stock worth $96,993,000 after buying an additional 173,290 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KRG shares. Piper Sandler boosted 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 upped their target price for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Robert W. Baird lifted their price target on shares of 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. 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 on the stock in a research note on Friday, August 16th. Finally, KeyCorp increased their price target on 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $28.86.

Kite Realty Group Trust Stock Down 0.3 %

Shares of KRG stock traded down $0.07 on Tuesday, hitting $27.06. The stock had a trading volume of 299,463 shares, compared to its average volume of 1,580,248. 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 has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a fifty day moving average price of $26.52 and a two-hundred day moving average price of $24.67.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.99%. 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 currently -2,600.00%.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were 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 in the company, valued at $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

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.