California State Teachers Retirement System Sells 14,144 Shares of Kite Realty Group Trust (KRG)

California State Teachers Retirement System trimmed its position in shares of Kite Realty Group Trust (NYSE:KRG) by 9.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 132,585 shares of the real estate investment trust’s stock after selling 14,144 shares during the period. California State Teachers Retirement System’s holdings in Kite Realty Group Trust were worth $2,685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KRG. SG Americas Securities LLC raised its holdings in shares of Kite Realty Group Trust by 11.5% during the 2nd quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 557 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Kite Realty Group Trust by 64.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 2,627 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Kite Realty Group Trust by 58.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 2,500 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Kite Realty Group Trust by 374.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 5,623 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of Kite Realty Group Trust by 23.5% during the 2nd quarter. D.A. Davidson & CO. now owns 9,651 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 1,834 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently issued reports on the company. Zacks Investment Research cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Friday, December 8th. Capital One Financial reaffirmed an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $23.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. Finally, ValuEngine raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.80.

Shares of Kite Realty Group Trust (NYSE KRG) opened at $17.90 on Friday. Kite Realty Group Trust has a twelve month low of $17.60 and a twelve month high of $24.38. The firm has a market capitalization of $1,500.00, a price-to-earnings ratio of 119.33, a P/E/G ratio of 2.02 and a beta of 0.61. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The company had revenue of $87.10 million for the quarter, compared to analyst estimates of $88.16 million. During the same quarter in the prior year, the firm posted $0.52 EPS. Kite Realty Group Trust’s quarterly revenue was down 2.2% compared to the same quarter last year. equities analysts forecast that Kite Realty Group Trust will post 2.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, January 5th were issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.09%. The ex-dividend date of this dividend was Thursday, January 4th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.30. Kite Realty Group Trust’s dividend payout ratio is presently 846.67%.

In other Kite Realty Group Trust news, CAO Thomas R. Olinger sold 3,157 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.01, for a total value of $60,014.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John A. Kite sold 17,000 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $20.09, for a total value of $341,530.00. Following the completion of the transaction, the chief executive officer now directly owns 52,712 shares in the company, valued at approximately $1,058,984.08. The disclosure for this sale can be found here. Insiders have sold a total of 25,157 shares of company stock worth $497,645 in the last 90 days. 1.87% of the stock is currently owned by insiders.

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About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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