Edgestream Partners L.P. Buys Shares of 36,468 Kite Realty Group Trust (NYSE:KRG)

Edgestream Partners L.P. bought a new stake in shares of Kite Realty Group Trust (NYSE:KRG) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 36,468 shares of the real estate investment trust’s stock, valued at approximately $969,000.

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

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the business’s 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 transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Kite Realty Group Trust Trading Up 0.2 %

Shares of KRG stock opened at $26.95 on Thursday. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of -673.63, a price-to-earnings-growth ratio of 3.76 and a beta of 1.28. 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 has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The firm’s 50 day moving average price is $26.53 and its two-hundred day moving average price is $24.73.

Kite Realty Group Trust Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.01%. 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 payout ratio is -2,600.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler lifted 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 report on Tuesday, September 3rd. KeyCorp lifted their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target 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, Compass Point boosted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust currently 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.