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 boosted its holdings in Kite Realty Group Trust (NYSE:KRG) by 37.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 owned 0.05% of Kite Realty Group Trust worth $2,997,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Magnetar Financial LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $677,000. Teacher Retirement System of Texas boosted its position in shares of Kite Realty Group Trust by 4.3% during the fourth quarter. Teacher Retirement System of Texas now owns 110,342 shares of the real estate investment trust’s stock worth $2,785,000 after buying an additional 4,532 shares during the period. Xponance Inc. grew its stake in shares of Kite Realty Group Trust by 8.6% in the fourth quarter. Xponance Inc. now owns 32,033 shares of the real estate investment trust’s stock valued at $809,000 after buying an additional 2,526 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Kite Realty Group Trust by 4.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 199,062 shares of the real estate investment trust’s stock valued at $5,024,000 after buying an additional 8,797 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Kite Realty Group Trust by 13.0% in the 4th quarter. Signaturefd LLC now owns 12,853 shares of the real estate investment trust’s stock valued at $324,000 after buying an additional 1,480 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.74 on Tuesday. The company has a market cap of $4.99 billion, a P/E ratio of 1,136.80, a PEG ratio of 3.57 and a beta of 1.30. The firm has a fifty day moving average price of $22.77 and a 200 day moving average price of $24.93. 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 data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. Sell-side analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.75%. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KRG. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Wells Fargo & Company dropped their price target on shares of 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. Finally, Raymond James reduced their price objective 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. 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. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average target price of $28.13.

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.