Great West Life Assurance Co. is reported to have initiated a new position in Kite Realty Group Trust (NYSE: KRG) during the third quarter, as stated in its most recent filing with the SEC. The filing is where we obtained this information. When purchasing 326,909 shares of the real estate investment trust’s stock, the institutional investor forked over a total of $5,634,000. The cost of one share was calculated to be $5.26.90. At the end of the most recent fiscal quarter, the Great West Life Assurance Company of Canada held a stake in the Kite Realty Group Trust, equaling 0.15 percent of the trust’s total value.
Institutional investors and hedge funds have bought and sold company shares in recent transactions. These transactions involve the company’s stock. Coston McIsaac & Partners put in approximately $26,000 during the third quarter to purchase a new investment in Kite Realty Group Trust. This was done to acquire the investment. The value of Covestor Ltd.’s holdings in Kite Realty Group Trust increased by 7,854.2% during the first three months of the year. After making a new purchase of 1,885 shares during the most recent quarter, Covestor Ltd. now has 1,909 shares of the real estate investment trust, which are currently valued at $43,000. This brings the total number of shares owned by the company to 1,909, which is an increase of 1. Wipfli Financial Advisors LLC made a new investment in Kite Realty Group Trust during the third quarter of 2018, worth $58,000. During the second quarter, Lazard Asset Management LLC achieved a 71.5% increase in the proportion of ownership it held in Kite Realty Group Trust. Lazard Asset Management LLC now has a total of 3,444 shares of the real estate investment trust, valued at $59,000, after purchasing an additional 1,436 shares during the most recent quarter. Lazard Asset Management LLC purchased these shares. And finally, during the third quarter, Allworth Financial LP made a 34.1% increase in the number of shares of Kite Realty Group Trust that it owned, bringing the total to percentage ownership of 100%. Allworth Financial LP now has 4,257 real estate investment trust shares, which are currently valued at $73,000. This is a result of the company purchasing an additional 1,083 shares during the most recent quarter. Institutional investors and investors who invest through hedge funds own 96.84% of the company’s stock.
Several different analyst studies about KRG have been compiled over time. Raymond James announced to the public on January 4 that the price objective for Kite Realty Group Trust has been lowered from $27.00 to $26.00. This information was included in a report that Raymond James made public. In addition to that, a “strong-buy” recommendation was issued for the stock at the same time. Kite Realty Group Trust had been given a “hold” rating by StockNews.com before a downgrade on Friday, December 9, when the website changed its recommendation to “sell.” Piper Sandler disclosed their decision to increase their price target for Kite Realty Group Trust to $25.00 in a research note released on November 16. In a research note published on November 9, Bank of America increased its price target for Kite Realty Group Trust from $22.00 to $25.00. The previous price target had been $22.00. In addition, the firm’s recommendation for the company’s stock was upgraded from “neutral” to “buy,” indicating an increased interest in the stock. Robert W. Baird lowered Kite Realty Group Trust from an “outperform” rating to a “neutral” rating in a research note published on Thursday, January 5. In addition, they decreased the price target they had set for the company from $26.00 to $25.00. This brings us to the last point we will discuss. One of the equity research analysts has assigned a rating of “sell” to the stock, while another has suggested that the stock be held. Seven equity research analysts have assigned a rating of “buy,” and one has assigned a rating of “strong buy” to the stock. According to Bloomberg, the average rating for the stock right now is “Moderate Buy,” and the stock’s consensus price target is $25.25. Polling analysts determined the price target.
KRG began trading on Friday at $20.54. The company’s market capitalization is currently sitting at $4.50 billion. Its price-to-earnings ratio is -35.41, its price-to-earnings-to-growth ratio is 1.20, and its beta value is 1.35. It is possible to draw parallels between a debt-to-equity ratio of 0.78, a quick ratio of 1.15, and a current ratio of 1.15. The company’s simple moving average for the past 50 days is $21.45; its simple moving average for the past 200 days is $19.93. Kite Realty Group Trust has seen its price range from a low of $16.42 to a high of $23.35 over the past 52 weeks, with an average price of $23.35.
Additionally, the corporation declared a quarterly dividend, which was paid out on the thirteenth of this month (Friday). On Friday, January 6, dividend payments were made to shareholders whose information was already on record for $0.24 each. This constitutes an increase compared to the previous quarterly dividend amount of $0.22 disbursed by Kite Realty Group Trust. This results in a dividend yield of 4.67% and a dividend payment of $0.96 per year due to what has transpired here. The date that the dividend was forfeited was this past Thursday, January 5. The dividend payout ratio (DPR) for Kite Realty Group Trust is currently calculated at -165.52%.
In other news, Director Steven P. Grimes sold 32,054 shares of the company’s stock on November 23. This is related to the previous item of information. This transaction took place at the beginning of this month. The total value of the sold shares was $712,239.88, which is equivalent to an average price of $22.22 per share received. Following the completion of the sale, the director will have a total of 791,452 shares of company stock, which will have a value of $17,586,063.44 at the time of this writing. The transaction was made public through a filing that was made with the SEC, which can be located on the website of the SEC.
Additionally, on November 23, Director Steven P. Grimes of Kite Realty Group Trust sold 32,054 shares of the company’s stock. The total value of the sold shares was $712,239.88, which is equivalent to an average price of $22.22 per share received. Following the completion of the sale, the director will have a total of 791,452 shares of company stock, which will have a value of $17,586,063.44 at the time of this writing. If you follow this link, you will be taken to a document submitted to the Securities and Exchange Commission (SEC), which will provide a comprehensive explanation of the transaction. In addition, Director Steven P. Grimes of Kite Realty Group Trust sold 12,946 shares of the company’s stock on November 30. The stock sale resulted in a total revenue of $289,343.10, corresponding to an average price of $22.35 per share received. As a direct consequence of the transaction, the director now possesses a total of 778,506 shares of the company, which have a combined value of $17,399,609.10. The disclosure about the purchase can be found in this particular location. Insiders of the company have sold 91,500 shares during the past three months, bringing in a total of $2,013,888 in profits. Today, company insiders hold 1.30 percent of the total company stock.
