Bernzott Capital Advisors Has $7.15 Million Position in Kite Realty Group Trust (NYSE:KRG)

Bernzott Capital Advisors boosted its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 0.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 269,130 shares of the real estate investment trust’s stock after buying an additional 1,275 shares during the quarter. Kite Realty Group Trust comprises approximately 3.1% of Bernzott Capital Advisors’ investment portfolio, making the stock its 16th largest holding. Bernzott Capital Advisors’ holdings in Kite Realty Group Trust were worth $7,148,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. abrdn plc lifted its stake in shares of Kite Realty Group Trust by 8.3% in the 3rd quarter. abrdn plc now owns 44,926 shares of the real estate investment trust’s stock valued at $1,193,000 after purchasing an additional 3,428 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Kite Realty Group Trust by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock valued at $3,408,000 after purchasing an additional 484 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Kite Realty Group Trust by 3.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 51,927 shares of the real estate investment trust’s stock valued at $1,344,000 after purchasing an additional 1,737 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kite Realty Group Trust by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,524 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 2,199 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its stake in shares of Kite Realty Group Trust by 2.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock valued at $629,000 after purchasing an additional 671 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Down 0.3 %

KRG traded down $0.09 during midday trading on Tuesday, reaching $25.73. 348,203 shares of the company were exchanged, compared to its average volume of 1,576,155. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. The company’s fifty day moving average price is $26.05 and its 200 day moving average price is $23.63. The company has a market cap of $5.65 billion, a price-to-earnings ratio of -234.73, a price-to-earnings-growth ratio of 3.99 and a beta of 1.29. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.15.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KRG shares. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Raymond James raised 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. KeyCorp upped their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Compass Point upped their price target on 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. Finally, Piper Sandler upped their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Insiders Place Their Bets

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction that occurred 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 directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 0.00 % decrease in their position. The sale 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 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.