Thornburg Investment Management Inc. Has $9.55 Million Stake in Kite Realty Group Trust (NYSE:KRG)

Thornburg Investment Management Inc. lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 4.0% in the second quarter, Holdings Channel.com reports. The firm owned 426,759 shares of the real estate investment trust’s stock after selling 17,734 shares during the period. Thornburg Investment Management Inc.’s holdings in Kite Realty Group Trust were worth $9,548,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Kite Realty Group Trust by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after buying an additional 881,502 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Kite Realty Group Trust by 28.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after buying an additional 693,852 shares in the last quarter. Norges Bank bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth approximately $52,746,000. 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 worth $48,955,000 after buying an additional 32,493 shares in 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 worth $46,566,000 after buying an additional 295,708 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

KRG has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. KeyCorp lifted their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. 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 report on Wednesday, September 4th. Finally, 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 report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.00.

Kite Realty Group Trust Stock Up 0.3 %

KRG opened at $26.03 on Thursday. The company has a fifty day moving average price of $24.42 and a 200-day moving average price of $22.40. The firm has a market capitalization of $5.72 billion, a P/E ratio of 100.12, a price-to-earnings-growth ratio of 3.92 and a beta of 1.29. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $26.33.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, October 9th. Kite Realty Group Trust’s payout ratio is 400.00%.

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.