Kite Realty Group Trust (NYSE:KRG) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP boosted its stake in Kite Realty Group Trust (NYSE:KRG) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 764,415 shares of the real estate investment trust’s stock after purchasing an additional 75,840 shares during the period. Systematic Financial Management LP owned approximately 0.35% of Kite Realty Group Trust worth $20,303,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its position in Kite Realty Group Trust by 819.0% in the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 950 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Kite Realty Group Trust in the third quarter worth about $45,000. GAMMA Investing LLC lifted its holdings in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,204 shares during the last quarter. Quarry LP lifted its holdings in Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Kite Realty Group Trust by 42.7% in the second quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 992 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on KRG. KeyCorp raised their price objective on shares of 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. Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Friday, August 16th. Finally, Piper Sandler raised their target price 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. Three investment 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. Based on data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

Insider Buying and Selling

In other Kite Realty Group Trust 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 completion of the sale, the director now owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $26.95 on Thursday. The company has a 50 day moving average price of $26.53 and a 200 day moving average price of $24.73. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a $0.27 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.01%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,600.00%.

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.