Swiss National Bank Sells 3,700 Shares of Kite Realty Group Trust (NYSE:KRG)

Swiss National Bank lessened its stake in Kite Realty Group Trust (NYSE:KRG) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 428,697 shares of the real estate investment trust’s stock after selling 3,700 shares during the period. Swiss National Bank’s holdings in Kite Realty Group Trust were worth $11,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in shares of Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 950 shares during the period. GAMMA Investing LLC lifted its position 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 worth $44,000 after purchasing an additional 1,204 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at $45,000. Quarry LP increased its position in shares of Kite Realty Group Trust by 108.4% during the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,167 shares during the period. Finally, EntryPoint Capital LLC raised its stake in Kite Realty Group Trust by 109.6% during the first quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,435 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insiders Place Their Bets

In other Kite Realty Group Trust 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 transaction of $999,506.00. Following the completion of the sale, the director now directly owns 732,252 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on KRG shares. Compass Point upped 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. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Friday, August 16th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. KeyCorp raised their price objective 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. Finally, Piper Sandler lifted their price objective 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. Three 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Trading Up 0.8 %

Shares of Kite Realty Group Trust stock opened at $27.40 on Friday. The stock has a market capitalization of $6.02 billion, a PE ratio of -685.00, a price-to-earnings-growth ratio of 3.78 and a beta of 1.29. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $27.94. The stock has a 50 day moving average price of $26.40 and a two-hundred day moving average price of $24.35. 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 firm 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 represents a $1.08 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Thursday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s payout ratio is -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.