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

by · The Markets Daily

Vert Asset Management LLC acquired a new position in shares of Kite Realty Group Trust (NYSE:KRG – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 41,869 shares of the real estate investment trust’s stock, valued at approximately $1,004,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its holdings 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 worth $29,000 after acquiring an additional 462 shares in the last quarter. NewEdge Wealth LLC grew its holdings in Kite Realty Group Trust by 2.7% during the 3rd quarter. NewEdge Wealth LLC now owns 18,058 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 467 shares in the last quarter. Versant Capital Management Inc grew its holdings in Kite Realty Group Trust by 21.4% during the 3rd quarter. Versant Capital Management Inc now owns 3,085 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 544 shares in the last quarter. Smallwood Wealth Investment Management LLC grew its holdings in Kite Realty Group Trust by 57.9% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 641 shares in the last quarter. Finally, CWM LLC grew its holdings in Kite Realty Group Trust by 17.9% during the 3rd 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 owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KRG shares. Weiss Ratings raised shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. 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 report on Wednesday, February 18th. Wells Fargo & Company raised their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. UBS Group restated a “neutral” rating and issued a $25.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Finally, 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. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.38.

Get Our Latest Analysis on KRG

Kite Realty Group Trust Trading Down 0.1%

Kite Realty Group Trust stock opened at $26.70 on Monday. The firm’s 50-day moving average is $25.32 and its 200-day moving average is $23.82. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74. Kite Realty Group Trust has a 1 year low of $20.86 and a 1 year high of $26.74. The company has a market cap of $5.42 billion, a P/E ratio of 19.35, a PEG ratio of 4.84 and a beta of 0.88.

Kite Realty Group Trust Announces Dividend

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

Kite Realty Group Trust Company Profile

(Free Report)

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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