DigitalBridge Group Inc. Purchases 20,900 Shares of Kite Realty Group Trust $KRG

DigitalBridge Group Inc. increased its position in Kite Realty Group Trust (NYSE:KRG) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 652,300 shares of the real estate investment trust’s stock after purchasing an additional 20,900 shares during the quarter. Kite Realty Group Trust makes up about 1.1% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 29th largest holding. DigitalBridge Group Inc. owned about 0.30% of Kite Realty Group Trust worth $13,594,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Kite Realty Group Trust during the second quarter valued at $65,504,000. Lasalle Investment Management Securities LLC grew its position in shares of Kite Realty Group Trust by 177.3% in the 3rd quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust’s stock worth $62,779,000 after buying an additional 1,799,866 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Kite Realty Group Trust by 11.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock worth $281,229,000 after acquiring an additional 1,250,549 shares in the last quarter. Sei Investments Co. lifted its position in Kite Realty Group Trust by 171.0% during the 2nd quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock valued at $38,756,000 after acquiring an additional 1,079,727 shares during the period. Finally, Freestone Grove Partners LP lifted its position in Kite Realty Group Trust by 4,702.9% during the 3rd quarter. Freestone Grove Partners LP now owns 953,901 shares of the real estate investment trust’s stock valued at $21,272,000 after acquiring an additional 934,040 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Trading Up 0.5%

NYSE:KRG opened at $25.63 on Wednesday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 4.62 and a beta of 0.86. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average price is $24.68 and its 200-day moving average price is $23.41. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $26.38.

Kite Realty Group Trust Dividend Announcement

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

Wall Street Analyst Weigh In

KRG has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings raised Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. 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 note on Thursday, January 8th. Jefferies Financial Group reiterated a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Finally, Robert W. Baird boosted their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.00.

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.