Nicola Wealth Management LTD. Sells 7,700 Shares of Kite Realty Group Trust (NYSE:KRG)

Nicola Wealth Management LTD. trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 18.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,167 shares of the real estate investment trust’s stock after selling 7,700 shares during the period. Nicola Wealth Management LTD.’s holdings in Kite Realty Group Trust were worth $907,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in Kite Realty Group Trust by 4.7% during the first quarter. ProShare Advisors LLC now owns 49,851 shares of the real estate investment trust’s stock valued at $1,081,000 after purchasing an additional 2,242 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at approximately $594,000. State Board of Administration of Florida Retirement System grew its stake in shares of Kite Realty Group Trust by 13.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 70,299 shares of the real estate investment trust’s stock valued at $1,471,000 after buying an additional 8,120 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Kite Realty Group Trust by 2.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 133,434 shares of the real estate investment trust’s stock valued at $2,893,000 after acquiring an additional 3,671 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new position in shares of Kite Realty Group Trust in the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird lifted their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler upped their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. 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 research report on Tuesday. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and a consensus price target of $28.43.

Insider Activity at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

Kite Realty Group Trust Price Performance

KRG traded down $0.11 during trading on Thursday, reaching $27.16. The stock had a trading volume of 54,813 shares, compared to its average volume of 1,592,957. The stock has a market cap of $5.97 billion, a PE ratio of -681.75, a PEG ratio of 4.16 and a beta of 1.29. The business has a 50-day moving average of $26.27 and a 200-day moving average of $24.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.94.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued a dividend of $0.27 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is currently -2,600.00%.

About Kite Realty Group Trust

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.