Chicago Equity Partners LLC grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 24.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,005 shares of the real estate investment trust’s stock after purchasing an additional 39,270 shares during the period. Chicago Equity Partners LLC owned approximately 0.24% of Kite Realty Group Trust worth $3,330,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new position in Kite Realty Group Trust in the third quarter worth about $334,000. Eii Capital Management Inc. grew its position in Kite Realty Group Trust by 117.4% in the third quarter. Eii Capital Management Inc. now owns 11,544 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 6,234 shares in the last quarter. Private Advisor Group LLC purchased a new position in Kite Realty Group Trust in the second quarter worth about $212,000. BB&T Securities LLC grew its position in Kite Realty Group Trust by 36.2% in the second quarter. BB&T Securities LLC now owns 14,781 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 3,927 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new position in Kite Realty Group Trust in the third quarter worth about $283,000. Institutional investors own 90.85% of the company’s stock.
Shares of NYSE KRG opened at $16.25 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 1.87 and a beta of 0.50. Kite Realty Group Trust has a 1 year low of $13.87 and a 1 year high of $20.24.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, October 5th were paid a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.27 annualized dividend and a yield of 7.82%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.32. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 62.25%.
Several research analysts recently commented on the company. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Citigroup lifted their price target on Kite Realty Group Trust from $16.50 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, August 16th. Finally, Robert W. Baird lowered Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 price target for the company. in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Kite Realty Group Trust presently has an average rating of “Hold” and an average price target of $17.83.
In other Kite Realty Group Trust news, CEO John A. Kite sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $17.42, for a total value of $609,700.00. Following the completion of the sale, the chief executive officer now owns 68,588 shares of the company’s stock, valued at $1,194,802.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.93% of the stock is owned by company insiders.
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Kite Realty Group Trust Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
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