Candriam S.C.A. Makes New $2.07 Million Investment in Kite Realty Group Trust $KRG

Candriam S.C.A. bought a new position in Kite Realty Group Trust (NYSE:KRG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 92,631 shares of the real estate investment trust’s stock, valued at approximately $2,066,000.

Several other large investors have also modified their holdings of the stock. State of Wyoming bought a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at approximately $516,000. AlphaQuest LLC increased its stake in Kite Realty Group Trust by 227.5% during the third quarter. AlphaQuest LLC now owns 62,930 shares of the real estate investment trust’s stock valued at $1,403,000 after purchasing an additional 43,716 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth $1,882,000. Wolverine Asset Management LLC acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth $4,372,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Kite Realty Group Trust by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,758,033 shares of the real estate investment trust’s stock worth $85,119,000 after buying an additional 61,982 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KRG. 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. UBS Group restated a “neutral” rating and set a $25.00 price objective (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Hold” and a consensus target price of $25.43.

Kite Realty Group Trust Trading Down 0.6%

Shares of KRG stock opened at $24.54 on Friday. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $25.19. The firm has a market capitalization of $5.31 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 6.23 and a beta of 0.91. The stock has a fifty day moving average of $23.68 and a two-hundred day moving average of $22.79. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 0.98.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.7%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 181.25%.

About Kite Realty Group Trust

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.