Strategic Investment Solutions Inc. IL Buys New Shares in Kite Realty Group Trust (NYSE:KRG)

Strategic Investment Solutions Inc. IL bought a new stake in Kite Realty Group Trust (NYSE:KRG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,710 shares of the real estate investment trust’s stock, valued at approximately $45,000.

Several other hedge funds have also made changes to their positions in the stock. Raymond James & Associates lifted its stake in shares of Kite Realty Group Trust by 5.8% in the third quarter. Raymond James & Associates now owns 138,286 shares of the real estate investment trust’s stock valued at $3,673,000 after buying an additional 7,554 shares during the period. Capital Investment Advisors LLC bought a new position in Kite Realty Group Trust during the third quarter worth about $204,000. Blue Trust Inc. lifted its stake in Kite Realty Group Trust by 100.2% during the third quarter. Blue Trust Inc. now owns 6,633 shares of the real estate investment trust’s stock worth $176,000 after purchasing an additional 3,319 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Kite Realty Group Trust by 12.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,107 shares of the real estate investment trust’s stock worth $1,145,000 after purchasing an additional 4,828 shares during the period. Finally, Creative Planning lifted its stake in Kite Realty Group Trust by 8.1% during the third quarter. Creative Planning now owns 21,784 shares of the real estate investment trust’s stock worth $579,000 after purchasing an additional 1,634 shares during the period. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Piper Sandler raised their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. KeyCorp raised their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, 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 target for the company in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Insider Transactions at Kite Realty Group Trust

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 shares were sold at an average price of $26.80, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Trading Down 0.2 %

KRG stock traded down $0.04 during midday trading on Friday, reaching $26.02. The company’s stock had a trading volume of 53,576 shares, compared to its average volume of 1,580,973. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $27.15. The stock has a market cap of $5.71 billion, a PE ratio of 100.15, a price-to-earnings-growth ratio of 3.93 and a beta of 1.29. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. The business’s 50-day simple moving average is $26.02 and its 200-day simple moving average is $23.51.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.00%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 400.00%.

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.