Legacy Wealth Asset Management LLC Acquires 671 Shares of Kite Realty Group Trust (NYSE:KRG)

Legacy Wealth Asset Management LLC boosted its holdings in Kite Realty Group Trust (NYSE:KRG) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,688 shares of the real estate investment trust’s stock after acquiring an additional 671 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Kite Realty Group Trust were worth $629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Entropy Technologies LP bought a new position in shares of Kite Realty Group Trust in the first quarter worth approximately $594,000. Vanguard Group Inc. increased its holdings in shares of Kite Realty Group Trust by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after buying an additional 881,502 shares during the last quarter. Boston Partners bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth $752,000. Systematic Financial Management LP raised its position in shares of Kite Realty Group Trust by 34.0% during the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock valued at $15,410,000 after buying an additional 174,797 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Kite Realty Group Trust by 118.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock worth $2,784,000 after acquiring an additional 67,542 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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 dated Monday, September 16th. The shares were 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 directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Down 1.5 %

Shares of Kite Realty Group Trust stock opened at $25.67 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $27.15. The company’s 50 day moving average price is $26.03 and its 200-day moving average price is $23.54. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of -233.36, a P/E/G ratio of 3.99 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Wednesday, October 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio (DPR) is -945.45%.

Analyst Ratings Changes

A number of research analysts recently commented on KRG shares. KeyCorp increased their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Compass Point raised their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. 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 on the stock in a research note on Friday, August 16th. Finally, Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.00.

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.