Barclays PLC Boosts Stake in Kite Realty Group Trust $KRG

Barclays PLC increased its holdings in Kite Realty Group Trust (NYSE:KRG) by 7.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,268,347 shares of the real estate investment trust’s stock after buying an additional 89,839 shares during the quarter. Barclays PLC owned about 0.59% of Kite Realty Group Trust worth $28,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC grew its position in Kite Realty Group Trust by 32.2% in the 1st quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock worth $1,797,000 after purchasing an additional 19,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kite Realty Group Trust by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust’s stock valued at $2,893,000 after purchasing an additional 5,666 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Kite Realty Group Trust by 24.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 245,468 shares of the real estate investment trust’s stock valued at $5,560,000 after purchasing an additional 48,003 shares during the last quarter. Bank of Montreal Can increased its position in shares of Kite Realty Group Trust by 63.3% during the 2nd quarter. Bank of Montreal Can now owns 104,450 shares of the real estate investment trust’s stock valued at $2,366,000 after purchasing an additional 40,485 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Kite Realty Group Trust by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,788,714 shares of the real estate investment trust’s stock worth $40,514,000 after purchasing an additional 105,937 shares during the period. Institutional investors own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KRG. Citigroup reaffirmed a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Jefferies Financial Group reissued a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. UBS Group reaffirmed a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Finally, Robert W. Baird boosted their price target on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.00.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $25.93 on Thursday. The business’s 50-day moving average is $24.56 and its 200 day moving average is $23.32. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $26.38. The company has a market capitalization of $5.36 billion, a P/E ratio of 18.79, a P/E/G ratio of 4.69 and a beta of 0.86. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 9th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.5%. The ex-dividend date is Thursday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 84.06%.

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.