State of New Jersey Common Pension Fund D Decreases Holdings in Kite Realty Group Trust $KRG

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 252,871 shares of the real estate investment trust’s stock after selling 575 shares during the period. State of New Jersey Common Pension Fund D owned 0.12% of Kite Realty Group Trust worth $5,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of KRG. Centersquare Investment Management LLC lifted its holdings in Kite Realty Group Trust by 133.6% during the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after buying an additional 3,408,442 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at about $70,071,000. Long Pond Capital LP purchased a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at about $60,616,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Kite Realty Group Trust by 332.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust’s stock valued at $33,776,000 after purchasing an additional 1,160,694 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at about $24,727,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.91 on Monday. The stock has a market capitalization of $5.04 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 6.35 and a beta of 1.15. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The stock’s 50-day moving average price is $22.36 and its 200 day moving average price is $22.23. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $211.18 million for the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, equities research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the transaction, the chief executive officer owned 54,121 shares in the company, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company raised Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Citigroup reissued a “neutral” rating and issued a $24.00 target price (down from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. UBS Group assumed coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 target price for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Kite Realty Group Trust in a report on Saturday. Finally, Wall Street Zen raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Hold” and a consensus target price of $26.70.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.