IHT Wealth Management LLC Boosts Stake in Kite Realty Group Trust (NYSE:KRG)

IHT Wealth Management LLC lifted its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 12.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,907 shares of the real estate investment trust’s stock after acquiring an additional 1,954 shares during the quarter. IHT Wealth Management LLC’s holdings in Kite Realty Group Trust were worth $475,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Systematic Financial Management LP increased its holdings in Kite Realty Group Trust by 34.0% during the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock worth $15,410,000 after purchasing an additional 174,797 shares during the last quarter. Versor Investments LP bought a new stake in shares of Kite Realty Group Trust in the third quarter worth $537,000. Eagle Asset Management Inc. acquired a new stake in Kite Realty Group Trust in the third quarter valued at $7,486,000. Thrivent Financial for Lutherans boosted its stake in Kite Realty Group Trust by 118.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock valued at $2,784,000 after acquiring an additional 67,542 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Kite Realty Group Trust during the 3rd quarter worth $631,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction, the director now directly 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 filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Kite Realty Group Trust Stock Performance

KRG stock opened at $26.96 on Monday. The stock’s fifty day moving average is $26.56 and its two-hundred day moving average is $24.83. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of -674.00, a PEG ratio of 3.91 and a beta of 1.28. 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 has a 1 year low of $19.64 and a 1 year high of $28.24.

Kite Realty Group Trust Increases Dividend

The company also recently announced 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 4.01%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s payout ratio is presently -2,600.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KRG shares. Piper Sandler upped 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. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, August 16th. Compass Point lifted their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, KeyCorp increased 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 report on Tuesday, November 12th. Three equities research 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’s stock. Based on data from MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average price target 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.