Versor Investments LP Acquires 59,912 Shares of Kite Realty Group Trust $KRG

Versor Investments LP boosted its stake in Kite Realty Group Trust (NYSE:KRG) by 471.7% in the third quarter, HoldingsChannel reports. The firm owned 72,612 shares of the real estate investment trust’s stock after acquiring an additional 59,912 shares during the period. Versor Investments LP’s holdings in Kite Realty Group Trust were worth $1,619,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KRG. Harbor Capital Advisors Inc. grew its holdings in shares of Kite Realty Group Trust by 54.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 462 shares during the period. Truist Financial Corp boosted its position in Kite Realty Group Trust by 5.3% during the 2nd quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 503 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Kite Realty Group Trust by 21.4% during the third quarter. Versant Capital Management Inc now owns 3,085 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 544 shares during the last quarter. Smallwood Wealth Investment Management LLC grew its holdings in shares of Kite Realty Group Trust by 57.9% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 641 shares in the last quarter. Finally, CWM LLC raised its holdings in Kite Realty Group Trust by 17.9% during the third quarter. CWM LLC now owns 4,254 shares of the real estate investment trust’s stock worth $95,000 after acquiring an additional 647 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KRG has been the topic of several recent analyst reports. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday, December 29th. UBS Group reissued a “neutral” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Jefferies Financial Group restated a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Finally, Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.43.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $24.74 on Tuesday. The company’s 50-day moving average is $23.55 and its 200-day moving average is $22.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $5.36 billion, a PE ratio of 38.65, a PEG ratio of 6.28 and a beta of 0.91. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $24.99.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 9th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.7%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 181.25%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.