Heitman Real Estate Securities LLC Decreases Stock Position in Kite Realty Group Trust (NYSE:KRG)

Heitman Real Estate Securities LLC decreased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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’s holdings in Kite Realty Group Trust were worth $12,537,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KRG. Price T Rowe Associates Inc. MD increased its position in shares of Kite Realty Group Trust by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 137,186 shares of the real estate investment trust’s stock valued at $2,975,000 after purchasing an additional 8,353 shares during the last quarter. Boston Partners purchased a new position in Kite Realty Group Trust in the first quarter valued at $752,000. GAMMA Investing LLC raised its stake in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,204 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Kite Realty Group Trust by 13.4% during the 2nd quarter. SG Americas Securities LLC now owns 25,584 shares of the real estate investment trust’s stock worth $573,000 after buying an additional 3,014 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Kite Realty Group Trust by 15.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,372 shares of the real estate investment trust’s stock worth $478,000 after acquiring an additional 2,916 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $27.13 on Tuesday. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The stock’s 50 day simple moving average is $26.52 and its 200-day simple moving average is $24.67.

Kite Realty Group Trust Increases Dividend

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

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction 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 owns 732,252 shares of the company’s stock, valued at $19,624,353.60. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

KRG has been the topic of several research analyst reports. Compass Point raised their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Friday, August 16th. KeyCorp upped their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. 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 research note on Tuesday, September 3rd. Finally, Wells Fargo & Company raised shares of 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 report on Wednesday, August 28th. Three equities research 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 stock. According to MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average target price of $28.86.

Kite Realty Group Trust Profile

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.