Point72 Hong Kong Ltd Acquires 18,596 Shares of Kite Realty Group Trust (NYSE:KRG)

Point72 Hong Kong Ltd increased its stake in Kite Realty Group Trust (NYSE:KRG) by 334.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,161 shares of the real estate investment trust’s stock after acquiring an additional 18,596 shares during the period. Point72 Hong Kong Ltd’s holdings in Kite Realty Group Trust were worth $642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Kite Realty Group Trust by 0.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock worth $2,554,000 after purchasing an additional 483 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Kite Realty Group Trust by 0.4% during the 3rd 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 buying an additional 484 shares in the last quarter. Marcum Wealth LLC boosted its position in Kite Realty Group Trust by 1.4% in 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 buying an additional 571 shares during the period. Legacy Wealth Asset Management LLC grew its stake 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. Finally, FMR LLC increased its position in shares of Kite Realty Group Trust by 2.6% during the third quarter. FMR LLC now owns 28,610 shares of the real estate investment trust’s stock worth $760,000 after acquiring an additional 737 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KRG has been the subject of a number of research reports. Robert W. Baird boosted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. KeyCorp increased their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note 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 stock an “overweight” rating in a research note on Tuesday, September 3rd. Compass Point upped their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Stock Down 1.6 %

Shares of KRG stock opened at $27.13 on Tuesday. The stock’s fifty day moving average price is $26.52 and its 200 day moving average price is $24.67. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company has a market cap of $5.96 billion, a price-to-earnings ratio of -678.25, a price-to-earnings-growth ratio of 3.83 and a beta of 1.29. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.27 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. Kite Realty Group Trust’s payout ratio is presently -2,700.00%.

Insider Activity

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the business’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. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

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.