Clearbridge Investments LLC Acquires 18,280 Shares of Kite Realty Group Trust (NYSE:KRG)

Clearbridge Investments LLC raised its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 814,322 shares of the real estate investment trust’s stock after buying an additional 18,280 shares during the period. Clearbridge Investments LLC owned about 0.37% of Kite Realty Group Trust worth $17,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Kite Realty Group Trust by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after acquiring an additional 881,502 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Kite Realty Group Trust by 2.8% in the fourth 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 purchasing an additional 90,897 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake 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 valued at $71,326,000 after purchasing an additional 693,852 shares during the period. Norges Bank bought a new position in shares of Kite Realty Group Trust in the fourth quarter worth approximately $52,746,000. Finally, Strs Ohio increased its stake 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 worth $42,731,000 after buying an additional 1,140,700 shares during the period. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Trading Down 2.2 %

KRG stock traded down $0.52 on Wednesday, reaching $23.60. The company’s stock had a trading volume of 1,291,801 shares, compared to its average volume of 1,661,073. The firm has a market cap of $5.18 billion, a PE ratio of 91.47, a PEG ratio of 6.05 and a beta of 1.31. The business has a fifty day simple moving average of $22.09 and a two-hundred day simple moving average of $21.57. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $24.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.72 and a current ratio of 2.72.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th were given a $0.25 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.00 annualized dividend and a dividend yield of 4.24%. Kite Realty Group Trust’s dividend payout ratio is 384.63%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KRG. Jefferies Financial Group raised shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, April 18th. Wells Fargo & Company increased their target price on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a report on Tuesday, May 28th. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

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.