Vert Asset Management LLC Makes New $1 Million Investment in Kite Realty Group Trust $KRG

Key Points

• Vert Asset Management opened a new position in Kite Realty during Q4, buying 41,869 shares valued at approximately $1.004 million, and institutional investors now own about 90.81% of the company.
• Analysts have recently nudged price targets higher (Wells Fargo to $28, others to $25–$27), but the consensus remains a Hold rating with an average price target of $26.38 (three Buy, six Hold).
• Kite declared a quarterly dividend of $0.29 (paid Apr 16), equal to a $1.16 annualized payment and a 4.3% yield, with a payout ratio of about 84.06%.

Vert Asset Management LLC purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 41,869 shares of the real estate investment trust's stock, valued at approximately $1,004,000.

Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in Kite Realty Group Trust by 54.8% during the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 462 shares during the period. First Horizon Corp purchased a new position in Kite Realty Group Trust during the third quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its stake in 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 worth $31,000 after purchasing an additional 740 shares during the period. Smallwood Wealth Investment Management LLC raised its stake in 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 worth $39,000 after purchasing an additional 641 shares during the period. Finally, Danske Bank A S purchased a new position in Kite Realty Group Trust during the third quarter worth approximately $49,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. UBS Group reissued a "neutral" rating and issued a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Weiss Ratings raised shares of Kite Realty Group Trust from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, February 18th. Citigroup reissued a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research note on Tuesday, February 24th. Finally, Robert W. Baird raised their target price on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $26.38.

Kite Realty Group Trust Price Performance

KRG opened at $26.70 on Monday. The company has a fifty day simple moving average of $25.32 and a 200 day simple moving average of $23.82. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 4.84 and a beta of 0.88. Kite Realty Group Trust has a twelve month low of $20.86 and a twelve month high of $26.74. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Thursday, April 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 84.06%.

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.

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