Hantz Financial Services Inc. Reduces Position in Kite Realty Group Trust (NYSE:KRG)

Hantz Financial Services Inc. reduced its position in shares of Kite Realty Group Trust (NYSE:KRG) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,406 shares of the real estate investment trust’s stock after selling 676 shares during the period. Hantz Financial Services Inc.’s holdings in Kite Realty Group Trust were worth $781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Kite Realty Group Trust by 432.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after buying an additional 1,105,539 shares in the last quarter. Land & Buildings Investment Management LLC purchased a new position in shares of Kite Realty Group Trust in the 2nd quarter valued at about $22,277,000. APG Asset Management US Inc. acquired a new stake in shares of Kite Realty Group Trust during the 2nd quarter worth about $16,665,000. F M Investments LLC purchased a new stake in Kite Realty Group Trust during the second quarter worth approximately $10,164,000. Finally, Lighthouse Investment Partners LLC boosted its holdings in Kite Realty Group Trust by 157.9% in the second quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock valued at $16,449,000 after purchasing an additional 450,000 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Buying and Selling at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust 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 transaction, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on KRG shares. Compass Point raised their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Piper Sandler boosted 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 report on Tuesday, September 3rd. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research note on Friday, August 16th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, KeyCorp boosted 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 research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $27.57 on Monday. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of -689.25, a PEG ratio of 3.83 and a beta of 1.29. The company has a 50-day simple moving average of $26.51 and a 200-day simple moving average of $24.63. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s payout ratio is -2,700.00%.

Kite Realty Group Trust 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.