Kite Realty Group Trust (NYSE:KRG) Shares Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division raised its position in Kite Realty Group Trust (NYSE:KRG) by 19.6% during the 4th quarter, Holdings Channel reports. The firm owned 7,390 shares of the real estate investment trust’s stock after acquiring an additional 1,210 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Kite Realty Group Trust were worth $187,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its stake in Kite Realty Group Trust by 819.0% in the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 950 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust in the third quarter valued at approximately $39,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $45,000. Quarry LP raised its position in shares of 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 worth $50,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,080 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock opened at $25.05 on Friday. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. 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 firm has a 50 day moving average price of $26.38 and a 200 day moving average price of $25.32. The company has a market cap of $5.50 billion, a price-to-earnings ratio of -626.25, a PEG ratio of 3.81 and a beta of 1.28.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.31%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, January 10th. Kite Realty Group Trust’s dividend payout ratio is presently -2,700.00%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KRG. KeyCorp raised their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price target for the stock from $31.00 to $27.00 in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.43.

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.