Geneos Wealth Management Inc. Increases Stock Position in Kite Realty Group Trust (NYSE:KRG)

Geneos Wealth Management Inc. lifted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 14.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,225 shares of the real estate investment trust’s stock after purchasing an additional 1,136 shares during the period. Geneos Wealth Management Inc.’s holdings in Kite Realty Group Trust were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Kite Realty Group Trust by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 32,715,871 shares of the real estate investment trust’s stock valued at $747,885,000 after acquiring an additional 344,226 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Kite Realty Group Trust by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock valued at $76,448,000 after acquiring an additional 90,897 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of Kite Realty Group Trust by 28.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after acquiring an additional 693,852 shares in the last quarter. Norges Bank bought a new position in shares of Kite Realty Group Trust in the fourth quarter worth $52,746,000. Finally, Strs Ohio grew its position in shares of Kite Realty Group Trust by 156.6% in the fourth quarter. Strs Ohio now owns 1,869,278 shares of the real estate investment trust’s stock valued at $42,731,000 after purchasing an additional 1,140,700 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $22.89 on Friday. The company’s fifty day simple moving average is $21.69 and its two-hundred day simple moving average is $21.53. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $24.26. The firm has a market cap of $5.03 billion, a PE ratio of 88.04, a price-to-earnings-growth ratio of 5.59 and a beta of 1.31. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90.

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Tuesday, July 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.37%. Kite Realty Group Trust’s dividend payout ratio is presently 384.63%.

Analysts Set New Price Targets

Several analysts have issued reports on KRG shares. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Thursday, April 18th. Wells Fargo & Company lifted their price objective on Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Hold” and a consensus target price of $26.00.

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.