Nicola Wealth Management LTD. Sells 7,700 Shares of Kite Realty Group Trust (NYSE:KRG)

Nicola Wealth Management LTD. trimmed its position in shares of Kite Realty Group Trust (NYSE:KRG) by 18.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,167 shares of the real estate investment trust’s stock after selling 7,700 shares during the period. Nicola Wealth Management LTD.’s holdings in Kite Realty Group Trust were worth $907,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Kite Realty Group Trust by 2.7% in the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after acquiring an additional 881,502 shares during the period. Dimensional Fund Advisors LP increased its stake in Kite Realty Group Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after acquiring an additional 190,380 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Kite Realty Group Trust by 17.7% during the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after acquiring an additional 386,566 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Kite Realty Group Trust by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after purchasing an additional 32,493 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Kite Realty Group Trust by 16.6% during the second quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock valued at $46,566,000 after purchasing an additional 295,708 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 0.4 %

Kite Realty Group Trust stock traded down $0.11 during midday trading on Thursday, reaching $27.16. The company’s stock had a trading volume of 54,813 shares, compared to its average volume of 1,592,957. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $27.94. The stock has a market capitalization of $5.97 billion, a P/E ratio of -681.75, a PEG ratio of 4.16 and a beta of 1.29. 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’s 50-day simple moving average is $26.27 and its 200-day simple moving average is $24.10.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 3.98%. Kite Realty Group Trust’s payout ratio is currently -2,600.00%.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the sale, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KRG. 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 research report on Friday, August 16th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Compass Point raised their price target on shares of 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. KeyCorp upped their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Piper Sandler lifted 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 research note on Tuesday, September 3rd. Three investment 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 stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average target price of $28.43.

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.