Teacher Retirement System of Texas Acquires 4,532 Shares of Kite Realty Group Trust (NYSE:KRG)

Teacher Retirement System of Texas raised its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 4.3% in the 4th quarter, Holdings Channel reports. The firm owned 110,342 shares of the real estate investment trust’s stock after purchasing an additional 4,532 shares during the quarter. Teacher Retirement System of Texas’ holdings in Kite Realty Group Trust were worth $2,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Kite Realty Group Trust during the third quarter worth about $39,000. Versant Capital Management Inc raised its holdings in Kite Realty Group Trust by 551.7% during the 4th 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 during the last quarter. Spectrum Wealth Counsel LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter worth approximately $101,000. GAMMA Investing LLC boosted its stake in shares of 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 valued at $121,000 after purchasing an additional 652 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of Kite Realty Group Trust by 19.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 1,210 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KRG shares. JPMorgan Chase & Co. dropped their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company cut their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James cut 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 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 lowered their price objective for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Trading Down 1.0 %

NYSE KRG opened at $22.50 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The business has a 50 day moving average price of $22.76 and a 200-day moving average price of $24.91. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 1,125.00, a P/E/G ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating 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%. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.80%. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

About Kite Realty Group Trust

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.