Lighthouse Investment Partners LLC Has $21.52 Million Holdings in Kite Realty Group Trust $KRG

Key Points

• Lighthouse Investment Partners raised its stake in Kite Realty Group Trust by 33.1% to 965,000 shares (worth about $21.52 million), making KRG its 17th-largest holding and representing roughly 0.7% of Lighthouse’s portfolio.
• Analysts recently updated coverage on KRG—several firms nudged price targets higher (e.g., Robert W. Baird and Citigroup to $27) but the consensus remains a Hold with an average target of $26.
• Kite declared a quarterly dividend of $0.29 per share (annualized $1.16) for a yield of about 4.6%; the ex-dividend date is April 9 and payment is April 16, with a payout ratio around 84%.

Lighthouse Investment Partners LLC lifted its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 33.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 965,000 shares of the real estate investment trust's stock after acquiring an additional 240,000 shares during the quarter. Kite Realty Group Trust makes up about 0.7% of Lighthouse Investment Partners LLC's holdings, making the stock its 17th biggest holding. Lighthouse Investment Partners LLC owned 0.45% of Kite Realty Group Trust worth $21,520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its stake in Kite Realty Group Trust by 54.8% during 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 purchasing an additional 462 shares during the period. First Horizon Corp acquired a new stake in shares of Kite Realty Group Trust in the third quarter worth $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 740 shares in the last quarter. Smallwood Wealth Investment Management LLC grew its holdings in shares of Kite Realty Group Trust by 57.9% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 641 shares in the last quarter. Finally, Versant Capital Management Inc raised its position 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 valued at $69,000 after buying an additional 544 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KRG shares. Weiss Ratings raised Kite Realty Group Trust from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded Kite Realty Group Trust from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Robert W. Baird increased 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 report on Wednesday, February 18th. Citigroup restated a "neutral" rating and set a $27.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Finally, UBS Group reaffirmed a "neutral" rating and set a $25.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Three equities research 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 has an average rating of "Hold" and an average target price of $26.00.

Kite Realty Group Trust Price Performance

KRG opened at $25.13 on Monday. The stock has a fifty day moving average price of $24.61 and a 200 day moving average price of $23.36. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $26.38. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 4.56 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. This represents a $1.16 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Thursday, April 9th. Kite Realty Group Trust's payout ratio 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.

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