UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Kite Realty Group Trust (NYSE:KRG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 432.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,361,062 shares of the real estate investment trust’s stock after buying an additional 1,105,539 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kite Realty Group Trust were worth $36,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake 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 purchasing an additional 950 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Kite Realty Group Trust during the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC raised its stake in Kite Realty Group Trust by 158.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares during the period. Quarry LP raised its stake in Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,167 shares during the period. Finally, Blue Trust Inc. raised its stake in Kite Realty Group Trust by 42.7% during the 2nd 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. Institutional investors own 90.81% of the company’s stock.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares in the company, valued at $19,624,353.60. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $26.95 on Thursday. The company has a market cap of $5.92 billion, a P/E ratio of -673.63, a P/E/G ratio of 3.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The business’s 50 day moving average price is $26.53 and its 200-day moving average price is $24.73. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.01%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s payout ratio is currently -2,600.00%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KRG shares. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Friday, August 16th. KeyCorp lifted their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Piper Sandler lifted their price objective on 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. Finally, Wells Fargo & Company raised 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 note on Wednesday, August 28th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.86.

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.