Ballentine Partners LLC Acquires Shares of 11,089 Kite Realty Group Trust (NYSE:KRG)

Ballentine Partners LLC acquired a new stake in shares of Kite Realty Group Trust (NYSE:KRGGet Rating) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 11,089 shares of the real estate investment trust’s stock, valued at approximately $192,000.

A number of other institutional investors have also added to or reduced their stakes in KRG. 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 buying an additional 1,885 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in Kite Realty Group Trust during the 3rd quarter valued at approximately $58,000. 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 buying an additional 1,436 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position 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 valued at $61,000 after acquiring an additional 3,510 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Kite Realty Group Trust by 34.1% during the 3rd quarter. Allworth Financial LP now owns 4,257 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 1,083 shares during the last quarter. 96.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on KRG shares. Piper Sandler increased their target price on Kite Realty Group Trust to $25.00 in a research report on Wednesday, November 16th. Citigroup upgraded Kite Realty Group Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $22.00 in a research report on Monday, September 19th. Robert W. Baird downgraded Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $25.00 in a research report on Thursday. Raymond James lowered their target price on Kite Realty Group Trust from $27.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Finally, Bank of America upgraded Kite Realty Group Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $22.00 to $25.00 in a research report on Wednesday, November 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.25.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $20.82 on Friday. 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 business has a fifty day moving average of $21.45 and a 200 day moving average of $19.74. Kite Realty Group Trust has a 52-week low of $16.42 and a 52-week high of $23.35.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, January 6th will be paid a $0.24 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 4.61%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently -165.52%.

Insiders Place Their Bets

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 12,946 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $22.35, for a total value of $289,343.10. Following the sale, the director now owns 778,506 shares in the company, valued at $17,399,609.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Kite Realty Group Trust news, Director Steven P. Grimes sold 12,946 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $22.35, for a total value of $289,343.10. Following the sale, the director now owns 778,506 shares in the company, valued at $17,399,609.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven P. Grimes sold 32,054 shares of the stock in a transaction on Wednesday, November 23rd. The stock was 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 owns 791,452 shares in the company, valued at approximately $17,586,063.44. The disclosure for this sale can be found here. Insiders have sold a total of 91,500 shares of company stock worth $2,013,888 over the last quarter. 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.

See Also

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

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