Kite Realty Group Trust (NYSE:KRG) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC reduced its holdings in Kite Realty Group Trust (NYSE:KRG) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,603 shares of the real estate investment trust’s stock after selling 39,769 shares during the quarter. Chartwell Investment Partners LLC owned 0.18% of Kite Realty Group Trust worth $10,719,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of Kite Realty Group Trust by 819.0% during 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 acquiring an additional 950 shares during the last quarter. GAMMA Investing LLC increased its stake in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,204 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Kite Realty Group Trust during the third quarter valued at about $45,000. Quarry LP increased its position in shares of 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 in the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in shares of Kite Realty Group Trust during the first quarter valued at approximately $52,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on KRG shares. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Compass Point lifted their price target 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. KeyCorp increased their price objective 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. Robert W. Baird raised their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Raymond James upgraded 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. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.00.

Insider Activity 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 that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $27.45 on Monday. The firm has a market cap of $6.03 billion, a P/E ratio of -686.25, a PEG ratio of 4.19 and a beta of 1.29. The stock’s 50-day moving average is $26.18 and its two-hundred day moving average is $23.99. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.94.

Kite Realty Group Trust Increases Dividend

The firm also recently announced 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 3.93%. This is an increase 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 dividend payout ratio is presently -2,600.00%.

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.