Public Employees Retirement System of Ohio Boosts Stock Position in Kite Realty Group Trust (NYSE:KRG)

Public Employees Retirement System of Ohio increased its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 0.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 315,140 shares of the real estate investment trust’s stock after acquiring an additional 2,598 shares during the period. Public Employees Retirement System of Ohio’s holdings in Kite Realty Group Trust were worth $8,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Systematic Financial Management LP lifted its holdings in Kite Realty Group Trust by 34.0% during the second quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock valued at $15,410,000 after purchasing an additional 174,797 shares in the last quarter. Versor Investments LP purchased a new position in Kite Realty Group Trust in the 3rd quarter valued at about $537,000. Eagle Asset Management Inc. acquired a new stake in Kite Realty Group Trust in the 3rd quarter worth about $7,486,000. Thrivent Financial for Lutherans boosted its holdings in Kite Realty Group Trust by 118.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock worth $2,784,000 after buying an additional 67,542 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Kite Realty Group Trust by 105.1% during the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock worth $1,279,000 after purchasing an additional 24,679 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the sale, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. This represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $26.28 on Friday. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $5.77 billion, a P/E ratio of -657.00, a price-to-earnings-growth ratio of 3.91 and a beta of 1.28. The firm has a 50-day moving average price of $26.58 and a two-hundred day moving average price of $24.93. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.11%. Kite Realty Group Trust’s payout ratio is -2,700.00%.

Analysts Set New Price Targets

KRG has been the topic of a number of research reports. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research note on Friday, August 16th. Piper Sandler upped their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Compass Point lifted their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Finally, Robert W. Baird lifted their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average price target of $28.86.

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.