Metis Global Partners LLC Has $601,000 Position in Kite Realty Group Trust (NYSE:KRG)

Metis Global Partners LLC increased its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 29.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 22,615 shares of the real estate investment trust’s stock after purchasing an additional 5,179 shares during the period. Metis Global Partners LLC’s holdings in Kite Realty Group Trust were worth $601,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KRG. UMB Bank n.a. lifted its holdings in shares of Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 950 shares during the last quarter. GAMMA Investing LLC raised its stake in Kite Realty Group Trust by 158.2% during 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. Strategic Investment Solutions Inc. IL bought a new stake in Kite Realty Group Trust in the 3rd quarter valued at $45,000. Quarry LP grew its position 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 worth $50,000 after purchasing an additional 1,167 shares during the last quarter. Finally, EntryPoint Capital LLC grew its position in Kite Realty Group Trust by 109.6% in the 1st quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,435 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $26.69 on Monday. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of -667.25, a price-to-earnings-growth ratio of 4.07 and a beta of 1.29. The business’s fifty day moving average price is $26.31 and its two-hundred day moving average price is $24.17. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.94. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.05%. This is a boost 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 Activity at Kite Realty Group Trust

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 value of $999,506.00. Following the transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Compass Point increased 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 research note on Wednesday, September 4th. Piper Sandler lifted their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Robert W. Baird boosted their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, KeyCorp boosted their price target 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. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average 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.