Pineridge Advisors LLC Purchases New Holdings in Kite Realty Group Trust (NYSE:KRG)

Pineridge Advisors LLC acquired a new stake in Kite Realty Group Trust (NYSE:KRG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,709 shares of the real estate investment trust’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Balyasny Asset Management L.P. raised its stake in Kite Realty Group Trust by 28.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after acquiring an additional 693,852 shares in the last quarter. Lighthouse Investment Partners LLC increased its position in Kite Realty Group Trust by 8.6% during the 4th quarter. Lighthouse Investment Partners LLC now owns 440,000 shares of the real estate investment trust’s stock worth $10,058,000 after purchasing an additional 35,000 shares in the last quarter. Verition Fund Management LLC increased its position in Kite Realty Group Trust by 35.0% during the 4th quarter. Verition Fund Management LLC now owns 707,343 shares of the real estate investment trust’s stock worth $16,170,000 after purchasing an additional 183,521 shares in the last quarter. Connectus Wealth LLC acquired a new stake in Kite Realty Group Trust in the fourth quarter valued at approximately $2,137,000. Finally, Presima Securities ULC grew its stake in shares of Kite Realty Group Trust by 168.2% during the fourth quarter. Presima Securities ULC now owns 121,430 shares of the real estate investment trust’s stock worth $2,776,000 after buying an additional 76,150 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of KRG traded down $0.05 during mid-day trading on Friday, hitting $21.96. The stock had a trading volume of 1,209,982 shares, compared to its average volume of 1,338,606. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.72 and a quick ratio of 2.72. The firm has a market cap of $4.82 billion, a P/E ratio of 84.43, a PEG ratio of 5.55 and a beta of 1.28. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $24.26. The business has a fifty day moving average price of $21.24 and a 200-day moving average price of $21.56.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Tuesday, July 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.55%. Kite Realty Group Trust’s payout ratio is 384.63%.

Analyst Ratings Changes

Several research analysts have issued reports on KRG shares. StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Wells Fargo & Company boosted their price objective on Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.40.

Kite Realty Group Trust Company 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.