Kite Realty Group Trust (NYSE:KRG) Shares Sold by Heitman Real Estate Securities LLC

Heitman Real Estate Securities LLC cut its stake in Kite Realty Group Trust (NYSE:KRG) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,013 shares of the real estate investment trust’s stock after selling 25,720 shares during the quarter. Heitman Real Estate Securities LLC owned approximately 0.21% of Kite Realty Group Trust worth $12,537,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its position 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 valued at $28,000 after acquiring an additional 950 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Kite Realty Group Trust in the 3rd quarter valued at $45,000. GAMMA Investing LLC raised its stake in 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 valued at $44,000 after purchasing an additional 1,204 shares during the last quarter. Quarry LP lifted its holdings in Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Kite Realty Group Trust by 42.7% during the 2nd quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 992 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 1.6 %

Shares of Kite Realty Group Trust stock opened at $27.13 on Tuesday. The business’s fifty day simple moving average is $26.52 and its 200-day simple moving average is $24.67. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio (DPR) is -2,600.00%.

Insider Buying and Selling at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust 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 approximately $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KRG shares. Robert W. Baird increased their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. KeyCorp raised their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Friday, August 16th. Compass Point increased their price target on 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, Piper Sandler boosted their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.86.

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.