Kite Realty Group Trust (NYSE:KRG) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Kite Realty Group Trust (NYSE:KRG) by 37.9% in the fourth quarter, Holdings Channel reports. The firm owned 118,737 shares of the real estate investment trust’s stock after acquiring an additional 32,619 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Kite Realty Group Trust were worth $2,997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in KRG. Natixis Advisors LLC boosted its stake in Kite Realty Group Trust by 14.3% during the 3rd quarter. Natixis Advisors LLC now owns 69,142 shares of the real estate investment trust’s stock worth $1,836,000 after purchasing an additional 8,645 shares during the period. Intech Investment Management LLC raised its stake in shares of Kite Realty Group Trust by 182.1% during the third quarter. Intech Investment Management LLC now owns 65,861 shares of the real estate investment trust’s stock worth $1,749,000 after purchasing an additional 42,518 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kite Realty Group Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock worth $96,993,000 after purchasing an additional 173,290 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth $7,486,000. Finally, Citigroup Inc. grew its position in Kite Realty Group Trust by 58.6% in the 3rd quarter. Citigroup Inc. now owns 227,242 shares of the real estate investment trust’s stock valued at $6,036,000 after buying an additional 83,963 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

KRG has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Jefferies Financial Group lowered 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 report on Thursday, January 2nd. Wells Fargo & Company cut their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. 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 note on Monday, March 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Stock Up 2.9 %

KRG opened at $22.74 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 1,136.80, a PEG ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The business’s fifty day moving average is $22.77 and its two-hundred day moving average is $24.93.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate 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%. Analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.75%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 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.