Kite Realty Group Trust (NYSE:KRG) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 51.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 327,431 shares of the real estate investment trust’s stock after selling 352,612 shares during the period. Verition Fund Management LLC’s holdings in Kite Realty Group Trust were worth $8,697,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KRG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Kite Realty Group Trust by 432.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after buying an additional 1,105,539 shares in the last quarter. Land & Buildings Investment Management LLC acquired a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth approximately $22,277,000. APG Asset Management US Inc. bought a new position in shares of Kite Realty Group Trust in the second quarter valued at approximately $16,665,000. F M Investments LLC acquired a new position in shares of Kite Realty Group Trust during the second quarter valued at approximately $10,164,000. Finally, Lighthouse Investment Partners LLC raised its holdings in Kite Realty Group Trust by 157.9% during the second quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock worth $16,449,000 after purchasing an additional 450,000 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $27.57 on Monday. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The company has a 50-day moving average of $26.51 and a two-hundred day moving average of $24.63. 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 has a market cap of $6.06 billion, a price-to-earnings ratio of -689.25, a PEG ratio of 3.83 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.92%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust’s payout ratio is presently -2,700.00%.

Insider Buying and Selling at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the company’s 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 transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KRG shares. KeyCorp increased their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Friday, August 16th. Piper Sandler upped their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Robert W. Baird lifted their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Three 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

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.