Mesirow Financial Investment Management Inc. Makes New $203,000 Investment in Kite Realty Group Trust (NYSE:KRG)

Mesirow Financial Investment Management Inc. acquired a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,660 shares of the real estate investment trust’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Kite Realty Group Trust by 2.7% in the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after purchasing an additional 881,502 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Kite Realty Group Trust by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after buying an additional 190,380 shares during the last quarter. Millennium Management LLC lifted its stake in Kite Realty Group Trust by 17.7% during the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock valued at $57,427,000 after acquiring an additional 386,566 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Kite Realty Group Trust by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after acquiring an additional 32,493 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Kite Realty Group Trust by 16.6% in the second quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock worth $46,566,000 after acquiring an additional 295,708 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Compass Point lifted their price target on 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 upped their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday. 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 for the company in a report on Friday, August 16th. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average price target of $28.43.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $27.25 on Wednesday. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.94. The stock has a market capitalization of $5.99 billion, a PE ratio of -681.25, a PEG ratio of 4.19 and a beta of 1.29. 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 stock has a 50-day simple moving average of $26.21 and a 200-day simple moving average of $24.03.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a $0.27 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.96%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is presently -2,600.00%.

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.