UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Kite Realty Group Trust (NYSE:KRG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Kite Realty Group Trust (NYSE:KRG) by 432.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,361,062 shares of the real estate investment trust’s stock after acquiring an additional 1,105,539 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.62% of Kite Realty Group Trust worth $36,150,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Kite Realty Group Trust by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock worth $2,554,000 after acquiring an additional 483 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Kite Realty Group Trust by 11.3% during the third quarter. BNP Paribas Financial Markets now owns 53,782 shares of the real estate investment trust’s stock valued at $1,428,000 after purchasing an additional 5,447 shares in the last quarter. FMR LLC lifted its holdings in shares of Kite Realty Group Trust by 2.6% during the third quarter. FMR LLC now owns 28,610 shares of the real estate investment trust’s stock valued at $760,000 after purchasing an additional 737 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Kite Realty Group Trust during the third quarter valued at $728,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Kite Realty Group Trust by 6.7% during the third quarter. Daiwa Securities Group Inc. now owns 73,264 shares of the real estate investment trust’s stock valued at $1,946,000 after purchasing an additional 4,631 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Up 0.2 %

KRG stock opened at $26.95 on Thursday. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The business’s 50-day moving average is $26.53 and its two-hundred day moving average is $24.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The company has a market cap of $5.92 billion, a price-to-earnings ratio of -673.63, a P/E/G ratio of 3.76 and a beta of 1.28.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s payout ratio is presently -2,600.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KRG. Piper Sandler upped their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Compass Point upped their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Robert W. Baird upped their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, KeyCorp increased their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.