New Age Alpha Advisors LLC Buys Shares of 46,220 Kite Realty Group Trust $KRG

New Age Alpha Advisors LLC purchased a new stake in Kite Realty Group Trust (NYSE:KRG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 46,220 shares of the real estate investment trust’s stock, valued at approximately $1,031,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Kite Realty Group Trust by 32.2% in the first quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock valued at $1,797,000 after buying an additional 19,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Kite Realty Group Trust by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust’s stock valued at $2,893,000 after acquiring an additional 5,666 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Kite Realty Group Trust by 24.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 245,468 shares of the real estate investment trust’s stock valued at $5,560,000 after acquiring an additional 48,003 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Kite Realty Group Trust by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 268,659 shares of the real estate investment trust’s stock worth $6,085,000 after acquiring an additional 1,298 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $1,053,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Wall Street Zen raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Citigroup reiterated a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Jefferies Financial Group restated a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Finally, Weiss Ratings upgraded shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.00.

Kite Realty Group Trust Stock Down 0.5%

Shares of NYSE KRG opened at $26.05 on Wednesday. The stock has a market cap of $5.39 billion, a P/E ratio of 18.88, a PEG ratio of 6.58 and a beta of 0.86. The business’s fifty day simple moving average is $24.34 and its 200-day simple moving average is $23.17. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $26.38. 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 Announces Dividend

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

About Kite Realty Group Trust

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.