Kite Realty Group Trust (NYSE:KRG) Stake Raised by Metis Global Partners LLC

Metis Global Partners LLC lifted its holdings in Kite Realty Group Trust (NYSE:KRG) by 29.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,615 shares of the real estate investment trust’s stock after purchasing an additional 5,179 shares during the period. Metis Global Partners LLC’s holdings in Kite Realty Group Trust were worth $601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KRG. Versor Investments LP acquired a new position in Kite Realty Group Trust in the third quarter worth approximately $537,000. State of New Jersey Common Pension Fund D raised its position in shares of Kite Realty Group Trust by 7.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 225,110 shares of the real estate investment trust’s stock worth $5,979,000 after purchasing an additional 15,000 shares during the period. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Kite Realty Group Trust during the third quarter valued at $203,000. Atria Investments Inc acquired a new position in shares of Kite Realty Group Trust in the 3rd quarter valued at $216,000. Finally, Van ECK Associates Corp increased its stake in Kite Realty Group Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 37,319 shares of the real estate investment trust’s stock worth $974,000 after purchasing an additional 4,096 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler raised their target price 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. 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 research note on Wednesday, September 4th. Robert W. Baird raised their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Finally, 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 note on Friday, August 16th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.86.

Insider Buying and Selling

In other news, Director Steven P. Grimes sold 37,295 shares of the 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 owns 732,252 shares in the company, valued at $19,624,353.60. This represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Kite Realty Group Trust Price Performance

KRG opened at $26.69 on Monday. 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 stock has a fifty day moving average price of $26.31 and a 200 day moving average price of $24.17. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of -667.25, a PEG ratio of 4.07 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. Investors of record on Thursday, January 9th will be paid a $0.27 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.05%. Kite Realty Group Trust’s payout ratio is presently -2,600.00%.

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.