State of Wyoming Invests $516,000 in Kite Realty Group Trust $KRG

State of Wyoming purchased a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,149 shares of the real estate investment trust’s stock, valued at approximately $516,000.

Several other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in Kite Realty Group Trust by 54.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 462 shares during the period. Ameritas Advisory Services LLC bought a new stake in Kite Realty Group Trust in the 2nd quarter worth approximately $30,000. First Horizon Corp bought a new position in shares of Kite Realty Group Trust during the third quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its stake in Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 740 shares during the period. Finally, Smallwood Wealth Investment Management LLC boosted its position in Kite Realty Group Trust by 57.9% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 641 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Up 0.2%

NYSE:KRG opened at $23.65 on Wednesday. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $24.50. The business has a fifty day moving average price of $23.43 and a 200-day moving average price of $22.69. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 36.95, a price-to-earnings-growth ratio of 5.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.98.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 9th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.9%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio is presently 181.25%.

Wall Street Analyst Weigh In

KRG has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday, December 29th. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. UBS Group reaffirmed a “neutral” rating and issued a $25.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $25.00 in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.43.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.