Connable Office Inc. Buys Shares of 7,808 Kite Realty Group Trust (NYSE:KRG)

Connable Office Inc. bought a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,808 shares of the real estate investment trust’s stock, valued at approximately $207,000.

Several other large investors also recently added to or reduced their stakes in KRG. Land & Buildings Investment Management LLC acquired a new stake in Kite Realty Group Trust during the 2nd quarter valued at $22,277,000. Vanguard Group Inc. increased 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 last quarter. APG Asset Management US Inc. acquired a new position in shares of Kite Realty Group Trust in the second quarter worth $16,665,000. F M Investments LLC acquired a new position in shares of Kite Realty Group Trust in the second quarter worth $10,164,000. Finally, Lighthouse Investment Partners LLC increased its stake in shares of Kite Realty Group Trust by 157.9% in the second quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock worth $16,449,000 after acquiring an additional 450,000 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 0.6 %

Shares of NYSE:KRG opened at $26.69 on Friday. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.94. The firm has a fifty day moving average price of $26.28 and a 200 day moving average price of $24.12. The stock has a market capitalization of $5.86 billion, a PE ratio of -667.25, a P/E/G ratio of 4.16 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. This is a boost 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 -2,600.00%.

Insider Buying and Selling at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the company’s 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 $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

KRG has been the topic of a number of research reports. 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. Robert W. Baird upped their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday. Piper Sandler upped their price target on shares of 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. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Finally, Compass Point upped their price objective 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. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.86.

About Kite Realty Group Trust

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.