Pictet Asset Management SA Purchases 617 Shares of Kite Realty Group Trust (NYSE:KRG)

Pictet Asset Management SA boosted its position in shares of Kite Realty Group Trust (NYSE:KRGGet Rating) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,113 shares of the real estate investment trust’s stock after purchasing an additional 617 shares during the period. Pictet Asset Management SA’s holdings in Kite Realty Group Trust were worth $1,489,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in 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 purchasing an additional 1,885 shares during the last quarter. MCF Advisors LLC bought a new position in Kite Realty Group Trust during the 1st quarter valued at about $54,000. Lazard Asset Management LLC grew its holdings in 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 valued at $59,000 after purchasing an additional 1,436 shares during the last quarter. Prospera Financial Services Inc bought a new position in Kite Realty Group Trust during the 1st quarter valued at about $80,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Kite Realty Group Trust by 10,968.8% in 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 acquiring an additional 3,510 shares in the last quarter. 95.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on KRG. Piper Sandler upped their target price on shares of Kite Realty Group Trust to $25.00 in a research note on Wednesday, November 16th. Bank of America upgraded shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $22.00 to $25.00 in a research note on Wednesday, November 9th. Citigroup upgraded shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $22.00 in a research note on Monday, September 19th. StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Friday, November 4th. Finally, Barclays lowered their price target on shares of Kite Realty Group Trust to $24.00 in a research report on Thursday, October 27th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.13.

Insiders Place Their Bets

In other Kite Realty Group Trust news, Director Gerald M. Gorski sold 11,230 shares of the firm’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $20.02, for a total value of $224,824.60. Following the completion of the transaction, the director now owns 47,592 shares of the company’s stock, valued at $952,791.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $22.30 on Wednesday. Kite Realty Group Trust has a fifty-two week low of $16.42 and a fifty-two week high of $23.35. The company has a 50 day moving average price of $19.10 and a 200-day moving average price of $19.34. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $4.89 billion, a PE ratio of -38.45, a PEG ratio of 1.25 and a beta of 1.33.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, January 6th will be given a dividend of $0.24 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.30%. Kite Realty Group Trust’s dividend payout ratio is presently -151.72%.

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.

Recommended Stories

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

Receive News & Ratings for Kite Realty Group Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Realty Group Trust and related companies with MarketBeat.com's FREE daily email newsletter.