Swiss National Bank Sells 3,700 Shares of Kite Realty Group Trust (NYSE:KRG)

Swiss National Bank decreased its holdings in Kite Realty Group Trust (NYSE:KRG) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 428,697 shares of the real estate investment trust’s stock after selling 3,700 shares during the quarter. Swiss National Bank owned 0.20% of Kite Realty Group Trust worth $11,386,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC boosted its stake in shares of Kite Realty Group Trust by 109.6% in the first quarter. EntryPoint Capital LLC now owns 2,744 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 1,435 shares during the period. Epoch Investment Partners Inc. acquired a new stake in shares of Kite Realty Group Trust during the 1st quarter worth $2,432,000. Price T Rowe Associates Inc. MD increased its position in shares of Kite Realty Group Trust by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 137,186 shares of the real estate investment trust’s stock worth $2,975,000 after purchasing an additional 8,353 shares during the period. Bayesian Capital Management LP raised its stake in Kite Realty Group Trust by 22.5% in the first quarter. Bayesian Capital Management LP now owns 36,422 shares of the real estate investment trust’s stock valued at $790,000 after purchasing an additional 6,700 shares in the last quarter. Finally, EMC Capital Management bought a new stake in Kite Realty Group Trust during the first quarter worth about $208,000. Institutional investors own 90.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $27.40 on Friday. The firm’s fifty day moving average price is $26.40 and its two-hundred day moving average price is $24.35. The stock has a market cap of $6.02 billion, a PE ratio of -685.00, a PEG ratio of 3.78 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. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.94.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 3.94%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s payout ratio is currently -2,700.00%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. KeyCorp raised their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Piper Sandler boosted their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price 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 price target on the stock in a research note on Friday, August 16th. Finally, Compass Point upped their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Three investment 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.