Mutual of America Capital Management LLC decreased its holdings in shares of Kite Realty Group Trust (NYSE:KRG – Free Report) by 2.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 176,273 shares of the real estate investment trust’s stock after selling 3,701 shares during the period. Mutual of America Capital Management LLC owned 0.08% of Kite Realty Group Trust worth $3,688,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. CENTRAL TRUST Co grew its position in shares of Kite Realty Group Trust by 91.4% in the 3rd quarter. CENTRAL TRUST Co now owns 1,675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 800 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Kite Realty Group Trust by 107.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,631 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 846 shares during the last quarter. Covestor Ltd grew its position in shares of Kite Realty Group Trust by 7,854.2% in the 1st quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 1,885 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Kite Realty Group Trust in the 4th quarter worth approximately $46,000. Finally, Bessemer Group Inc. grew its position in shares of Kite Realty Group Trust by 147.5% in the 4th quarter. Bessemer Group Inc. now owns 3,000 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,788 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Kite Realty Group Trust from $26.00 to $28.00 in a research note on Monday, May 8th. Barclays lifted their target price on shares of Kite Realty Group Trust from $27.00 to $28.00 in a research note on Wednesday, June 21st. Wells Fargo & Company began coverage on shares of Kite Realty Group Trust in a research note on Tuesday, May 23rd. They issued an “underweight” rating and a $20.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Kite Realty Group Trust in a research note on Monday, April 24th. They set a “neutral” rating and a $23.00 price objective for the company. Finally, StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus target price of $24.63.
Kite Realty Group Trust Price Performance
Kite Realty Group Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, October 6th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.07%. Kite Realty Group Trust’s payout ratio is currently 800.07%.
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.
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