Martingale Asset Management L P Sells 13,600 Shares of Kite Realty Group Trust (NYSE:KRG)

Martingale Asset Management L P trimmed its stake in shares of Kite Realty Group Trust (NYSE:KRGGet Rating) by 49.0% in the second quarter, HoldingsChannel.com reports. The fund owned 14,167 shares of the real estate investment trust’s stock after selling 13,600 shares during the quarter. Martingale Asset Management L P’s holdings in Kite Realty Group Trust were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of KRG. Covestor Ltd lifted its position in shares of Kite Realty Group Trust by 7,854.2% during the 1st quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 1,885 shares during the period. MCF Advisors LLC acquired a new position in shares of Kite Realty Group Trust during the 1st quarter worth $54,000. Lazard Asset Management LLC raised its holdings in shares of Kite Realty Group Trust by 71.5% during the 2nd quarter. Lazard Asset Management LLC now owns 3,444 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,436 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Kite Realty Group Trust by 10,968.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,542 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 3,510 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Kite Realty Group Trust by 26.1% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,527 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 937 shares in the last quarter. 95.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KRG shares. Piper Sandler boosted their price target on Kite Realty Group Trust to $25.00 in a report on Wednesday, November 16th. Bank of America raised Kite Realty Group Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $22.00 to $25.00 in a report on Wednesday, November 9th. Robert W. Baird boosted their price target on Kite Realty Group Trust from $25.00 to $26.00 in a report on Monday, August 15th. Citigroup raised Kite Realty Group Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $22.00 in a report on Monday, September 19th. Finally, StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Friday, November 4th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.13.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $22.03 on Thursday. Kite Realty Group Trust has a 12-month low of $16.42 and a 12-month high of $23.35. The business has a 50-day simple moving average of $19.16 and a two-hundred day simple moving average of $19.36. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.78. The stock has a market cap of $4.83 billion, a PE ratio of -37.98, a PEG ratio of 1.24 and a beta of 1.33.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, January 6th will be paid a $0.24 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 5th. This represents a $0.96 annualized dividend and a dividend yield of 4.36%. Kite Realty Group Trust’s dividend payout ratio is presently -151.72%.

Insider Activity

In other news, Director Gerald M. Gorski sold 11,230 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $20.02, for a total value of $224,824.60. Following the completion of the sale, the director now owns 47,592 shares of the company’s stock, valued at $952,791.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Gerald M. Gorski sold 11,230 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $20.02, for a total value of $224,824.60. Following the completion of the sale, the director now owns 47,592 shares of the company’s stock, valued at $952,791.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven P. Grimes sold 32,054 shares of the stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $22.22, for a total value of $712,239.88. Following the completion of the sale, the director now directly owns 791,452 shares of the company’s stock, valued at approximately $17,586,063.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,784 shares of company stock valued at $1,949,369. Company insiders own 1.30% of the company’s stock.

Kite Realty Group Trust Company Profile

(Get Rating)

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

Further Reading

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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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