MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Buys Shares of 576,480 Kite Realty Group Trust (NYSE:KRG)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income bought a new stake in shares of Kite Realty Group Trust (NYSE:KRG – Get Rating) during the first quarter, Holdings Channel.com reports. The fund bought 576,480 shares of the real estate investment trust’s stock, valued at approximately $13,126,000. Kite Realty Group Trust comprises 1.5% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s investment portfolio, making the stock its 15th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Kite Realty Group Trust in the fourth quarter worth $2,233,000. Commonwealth Equity Services LLC increased its stake in Kite Realty Group Trust by 198.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 110,849 shares of the real estate investment trust’s stock valued at $2,414,000 after acquiring an additional 73,674 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in Kite Realty Group Trust in the fourth quarter valued at $2,951,000. Yousif Capital Management LLC bought a new position in Kite Realty Group Trust in the fourth quarter valued at $2,500,000. Finally, CWM LLC bought a new position in Kite Realty Group Trust in the fourth quarter valued at $100,000. Institutional investors own 90.42% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock traded up $0.07 during trading on Friday, reaching $19.79. 767,046 shares of the stock were exchanged, compared to its average volume of 1,227,309. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 1.25. The stock’s fifty day moving average is $18.61 and its 200 day moving average is $20.65. Kite Realty Group Trust has a 1 year low of $16.68 and a 1 year high of $23.35.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 8th were issued a dividend of $0.21 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, July 7th. Kite Realty Group Trust’s dividend payout ratio is currently -135.48%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. Compass Point reduced their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd. Capital One Financial reissued an “overweight” rating on shares of Kite Realty Group Trust in a research note on Wednesday, May 25th. Piper Sandler reduced their target price on Kite Realty Group Trust to $25.00 in a research note on Monday, July 4th. Finally, Barclays cut their price target on shares of Kite Realty Group Trust from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Kite Realty Group Trust Company Profile

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Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.