31,455 Shares in Kite Realty Group Trust (NYSE:KRG) Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. acquired a new position in Kite Realty Group Trust (NYSE:KRG) in the 2nd quarter, HoldingsChannel reports. The fund acquired 31,455 shares of the real estate investment trust’s stock, valued at approximately $692,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KRG. Dynamic Technology Lab Private Ltd purchased a new position in Kite Realty Group Trust during the 1st quarter valued at about $291,000. Presima Inc. grew its holdings in Kite Realty Group Trust by 1.2% during the 2nd quarter. Presima Inc. now owns 51,200 shares of the real estate investment trust’s stock valued at $1,127,000 after buying an additional 600 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Kite Realty Group Trust by 373.3% during the 1st quarter. Acadian Asset Management LLC now owns 7,752 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 6,114 shares in the last quarter. IndexIQ Advisors LLC grew its holdings in Kite Realty Group Trust by 8.5% during the 1st quarter. IndexIQ Advisors LLC now owns 33,071 shares of the real estate investment trust’s stock valued at $638,000 after buying an additional 2,589 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Kite Realty Group Trust by 2.4% during the 1st quarter. Bank of Montreal Can now owns 39,947 shares of the real estate investment trust’s stock valued at $779,000 after buying an additional 924 shares in the last quarter. 95.43% of the stock is owned by institutional investors.

KRG has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, September 1st. Barclays started coverage on Kite Realty Group Trust in a report on Wednesday, September 1st. They set an “overweight” rating and a $27.00 price objective for the company. Zacks Investment Research lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Raymond James raised Kite Realty Group Trust from an “outperform” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Wednesday, August 25th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $23.50.

NYSE:KRG opened at $20.52 on Wednesday. The business has a 50 day moving average of $20.04 and a 200 day moving average of $20.57. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 128.26, a PEG ratio of 3.29 and a beta of 1.46. Kite Realty Group Trust has a 1-year low of $10.00 and a 1-year high of $23.14. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.51 and a quick ratio of 3.51.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Monday, August 2nd. The real estate investment trust reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.04. Kite Realty Group Trust had a return on equity of 1.05% and a net margin of 4.76%. As a group, sell-side analysts anticipate that Kite Realty Group Trust will post 1.34 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 8th. Investors of record on Friday, October 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $0.72 dividend on an annualized basis and a yield of 3.51%. Kite Realty Group Trust’s payout ratio is 55.81%.

About Kite Realty Group Trust

Kite Realty Group Trust operates as a real estate investment trust. It engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded on August 16, 2004 and is headquartered in Indianapolis, IN.

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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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