Strategic Investment Solutions Inc. IL Takes Position in Kite Realty Group Trust (NYSE:KRG)

Strategic Investment Solutions Inc. IL purchased a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,710 shares of the real estate investment trust’s stock, valued at approximately $45,000.

A number of other hedge funds also recently made changes to their positions in KRG. Vanguard Group Inc. raised its holdings in Kite Realty Group Trust by 2.7% during the first 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kite Realty Group Trust by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after acquiring an additional 190,380 shares during the last quarter. Millennium Management LLC lifted its position in shares of Kite Realty Group Trust by 17.7% during the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock valued at $57,427,000 after acquiring an additional 386,566 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Kite Realty Group Trust by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after acquiring an additional 32,493 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Kite Realty Group Trust by 16.6% during the 2nd quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock valued at $46,566,000 after acquiring an additional 295,708 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 0.2 %

Shares of NYSE KRG traded down $0.04 during mid-day trading on Friday, reaching $26.02. The company had a trading volume of 53,576 shares, compared to its average volume of 1,580,973. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $27.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $5.71 billion, a PE ratio of 100.15, a price-to-earnings-growth ratio of 3.93 and a beta of 1.29. The stock’s 50 day moving average is $26.02 and its 200-day moving average is $23.51.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.00%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio is presently 400.00%.

Insiders Place Their Bets

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the 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 directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KRG. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Compass Point boosted 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 research note on Wednesday, September 4th. Piper Sandler boosted their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, KeyCorp boosted their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.00.

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.