EMC Capital Management Makes New Investment in Kite Realty Group Trust (NYSE:KRG)

EMC Capital Management purchased a new position in Kite Realty Group Trust (NYSE:KRG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,600 shares of the real estate investment trust’s stock, valued at approximately $208,000.

Several other institutional investors have also added to or reduced their stakes in KRG. Pineridge Advisors LLC acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $39,000. Wolverine Asset Management LLC lifted its holdings in shares of Kite Realty Group Trust by 280.5% during the fourth quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,327 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Kite Realty Group Trust during the first quarter worth about $42,000. SageView Advisory Group LLC acquired a new stake in shares of Kite Realty Group Trust during the first quarter worth about $52,000. Finally, Blue Trust Inc. lifted its holdings in shares of Kite Realty Group Trust by 41.7% during the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 742 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KRG shares. Robert W. Baird lifted their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Finally, Jefferies Financial Group upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Stock Down 1.9 %

NYSE KRG traded down $0.46 during trading hours on Friday, hitting $24.32. 2,754,976 shares of the company were exchanged, compared to its average volume of 1,688,462. The company has a 50 day moving average of $22.54 and a two-hundred day moving average of $21.68. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $25.56. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 94.47, a PEG ratio of 6.22 and a beta of 1.30.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.28%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is presently 384.63%.

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.