145,980 Shares in Kite Realty Group Trust (NYSE:KRG) Bought by Phocas Financial Corp.

Phocas Financial Corp. acquired a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 145,980 shares of the real estate investment trust’s stock, valued at approximately $3,877,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KRG. Quest Partners LLC bought a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $631,000. Thrivent Financial for Lutherans boosted its stake in shares of Kite Realty Group Trust by 53.0% during the third quarter. Thrivent Financial for Lutherans now owns 190,265 shares of the real estate investment trust’s stock valued at $5,053,000 after purchasing an additional 65,881 shares during the period. Natixis Advisors LLC increased its stake in Kite Realty Group Trust by 14.3% in the 3rd quarter. Natixis Advisors LLC now owns 69,142 shares of the real estate investment trust’s stock worth $1,836,000 after buying an additional 8,645 shares during the period. Connable Office Inc. purchased a new position in Kite Realty Group Trust in the 3rd quarter worth about $207,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in Kite Realty Group Trust during the 3rd quarter valued at about $365,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

KRG opened at $26.92 on Tuesday. The firm has a market capitalization of $5.91 billion, a PE ratio of -673.00, a price-to-earnings-growth ratio of 4.07 and a beta of 1.29. 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 business’s 50-day moving average is $26.31 and its two-hundred day moving average is $24.19. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.94.

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. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.01%. Kite Realty Group Trust’s dividend payout ratio is presently -2,700.00%.

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the 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 sale, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their position. 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 insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Compass Point upped their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird upped their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday. Raymond James upgraded 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 note on Friday, August 16th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. 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 research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and a consensus price target 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.