Employees Retirement System of Texas Grows Stock Position in Kite Realty Group Trust (NYSE:KRG)

Employees Retirement System of Texas grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 110.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,000 shares of the real estate investment trust’s stock after buying an additional 106,000 shares during the period. Employees Retirement System of Texas owned 0.09% of Kite Realty Group Trust worth $5,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Kite Realty Group Trust in the 3rd quarter valued at about $39,000. Versant Capital Management Inc increased its stake in shares of Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,080 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $101,000. Headlands Technologies LLC purchased a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at approximately $116,000. Finally, GAMMA Investing LLC boosted its holdings in Kite Realty Group Trust by 15.8% in the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 652 shares during the period. Institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

KRG has been the topic of a number of analyst reports. Piper Sandler reissued a “neutral” rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company cut their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Raymond James decreased their price target on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 10th. Finally, Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.88.

Kite Realty Group Trust Stock Down 3.0 %

Shares of NYSE KRG opened at $20.17 on Tuesday. The business has a 50-day moving average of $22.50 and a 200-day moving average of $24.63. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 1,008.50, a PEG ratio of 3.57 and a beta of 1.05. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Sell-side analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Kite Realty Group Trust Company 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.