VitalStone Financial LLC Cuts Position in Kite Realty Group Trust (NYSE:KRG)

VitalStone Financial LLC trimmed its position in shares of Kite Realty Group Trust (NYSE:KRG) by 58.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,226 shares of the real estate investment trust’s stock after selling 3,095 shares during the period. VitalStone Financial LLC’s holdings in Kite Realty Group Trust were worth $59,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KRG. UMB Bank n.a. increased its stake in shares of 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 worth $28,000 after purchasing an additional 950 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust during the first quarter worth approximately $42,000. GAMMA Investing LLC increased its holdings in shares of Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,204 shares in the last quarter. 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, SageView Advisory Group LLC bought a new stake in Kite Realty Group Trust in the first quarter worth $52,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KRG shares. Compass Point upped their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. KeyCorp lifted their price objective on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Raymond James raised shares of 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 report on Friday, August 16th. Finally, Robert W. Baird increased their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $25.57 on Tuesday. The company has a fifty day moving average of $25.74 and a two-hundred day moving average of $23.25. The stock has a market capitalization of $5.62 billion, a PE ratio of 98.35, a P/E/G ratio of 3.93 and a beta of 1.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be issued a $0.26 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 annualized dividend and a yield of 4.07%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 400.00%.

Kite Realty Group Trust Company 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.