Centersquare Investment Management LLC Purchases 733,378 Shares of Kite Realty Group Trust $KRG

Centersquare Investment Management LLC grew its position in Kite Realty Group Trust (NYSE:KRG) by 9.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,130,960 shares of the real estate investment trust’s stock after purchasing an additional 733,378 shares during the quarter. Kite Realty Group Trust comprises approximately 1.8% of Centersquare Investment Management LLC’s investment portfolio, making the stock its 18th biggest position. Centersquare Investment Management LLC owned about 3.76% of Kite Realty Group Trust worth $181,320,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Kite Realty Group Trust in the 2nd quarter valued at $65,504,000. JPMorgan Chase & Co. lifted its holdings in shares of Kite Realty Group Trust by 11.2% during the second quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock worth $281,229,000 after buying an additional 1,250,549 shares in the last quarter. Sei Investments Co. boosted its position in shares of Kite Realty Group Trust by 171.0% in the second quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock valued at $38,756,000 after acquiring an additional 1,079,727 shares during the period. Bank of America Corp DE grew its stake in shares of Kite Realty Group Trust by 14.9% in the second quarter. Bank of America Corp DE now owns 5,956,664 shares of the real estate investment trust’s stock valued at $134,918,000 after acquiring an additional 773,023 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Kite Realty Group Trust by 53.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,557 shares of the real estate investment trust’s stock worth $44,835,000 after acquiring an additional 701,210 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $26.00 on Thursday. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $26.30. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 6.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.74 and a quick ratio of 0.74. The company’s 50 day simple moving average is $24.15 and its 200 day simple moving average is $23.02.

Kite Realty Group Trust Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on KRG shares. Citigroup reissued a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Jefferies Financial Group reissued a “hold” rating and set a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. UBS Group restated a “neutral” rating and set a $25.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Finally, Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.00.

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.