Phocas Financial Corp. Buys New Position in Kite Realty Group Trust (NYSE:KRG)

Phocas Financial Corp. purchased a new position in Kite Realty Group Trust (NYSE:KRG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 145,980 shares of the real estate investment trust’s stock, valued at approximately $3,877,000. Phocas Financial Corp. owned 0.07% of Kite Realty Group Trust at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its position in Kite Realty Group Trust by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock valued at $3,408,000 after purchasing an additional 484 shares in the last quarter. Marcum Wealth LLC grew its stake in shares of Kite Realty Group Trust by 1.4% during the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 571 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Kite Realty Group Trust by 2.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock worth $629,000 after acquiring an additional 671 shares in the last quarter. United Services Automobile Association increased its holdings in Kite Realty Group Trust by 4.6% in the 2nd quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 777 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in Kite Realty Group Trust by 1.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock worth $1,352,000 after acquiring an additional 900 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $26.92 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.94. The business has a 50 day simple moving average of $26.31 and a two-hundred day simple moving average of $24.19. The stock has a market capitalization of $5.91 billion, a PE ratio of -673.00, a P/E/G ratio of 4.07 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.01%. Kite Realty Group Trust’s dividend payout ratio (DPR) is -2,700.00%.

Insider Buying and Selling

In other Kite Realty Group Trust 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 completion of the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KRG. Robert W. Baird increased their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday. KeyCorp increased their price target 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. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Raymond James upgraded 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 research report on Friday, August 16th. Finally, Compass Point upped their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

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.