New Age Alpha Advisors LLC Takes $1.03 Million Position in Kite Realty Group Trust $KRG

New Age Alpha Advisors LLC purchased a new position in Kite Realty Group Trust (NYSE:KRG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,220 shares of the real estate investment trust’s stock, valued at approximately $1,031,000.

A number of other hedge funds also recently bought and sold shares of the business. State of Wyoming purchased a new position in Kite Realty Group Trust in the 3rd quarter valued at about $516,000. Candriam S.C.A. purchased a new stake in Kite Realty Group Trust during the 3rd quarter worth approximately $2,066,000. Envestnet Asset Management Inc. raised its holdings in shares of Kite Realty Group Trust by 22.4% during the third quarter. Envestnet Asset Management Inc. now owns 300,382 shares of the real estate investment trust’s stock valued at $6,699,000 after acquiring an additional 54,914 shares during the last quarter. Centersquare Investment Management LLC lifted its position in shares of Kite Realty Group Trust by 9.9% in the third quarter. Centersquare Investment Management LLC now owns 8,130,960 shares of the real estate investment trust’s stock valued at $181,320,000 after acquiring an additional 733,378 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Kite Realty Group Trust by 227.5% in the third quarter. AlphaQuest LLC now owns 62,930 shares of the real estate investment trust’s stock worth $1,403,000 after acquiring an additional 43,716 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on KRG shares. Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Citigroup reaffirmed a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Robert W. Baird raised their price target on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Kite Realty Group Trust Stock Down 0.5%

Shares of KRG opened at $26.05 on Wednesday. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $26.38. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $24.34 and a two-hundred day simple moving average of $23.17. The company has a market capitalization of $5.39 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 6.58 and a beta of 0.86.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, April 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.5%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 84.06%.

Kite Realty Group Trust 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.