VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Kite Realty Group Trust (NYSE:KRG – Free Report) in the second quarter, HoldingsChannel.com reports. The firm purchased 236,213 shares of the real estate investment trust’s stock, valued at approximately $6,704,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KRG. California State Teachers Retirement System lifted its holdings in Kite Realty Group Trust by 2,405.5% in the 2nd quarter. California State Teachers Retirement System now owns 6,613,164 shares of the real estate investment trust’s stock worth $187,682,000 after buying an additional 6,349,218 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Kite Realty Group Trust in the 2nd quarter valued at about $37,000. HB Wealth Management LLC grew its stake in shares of Kite Realty Group Trust by 45.8% during the second quarter. HB Wealth Management LLC now owns 12,864 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 4,038 shares in the last quarter. AlphaGrep UK Ltd purchased a new stake in shares of Kite Realty Group Trust during the second quarter worth about $304,000. Finally, Nykredit A S purchased a new stake in shares of Kite Realty Group Trust during the second quarter worth about $230,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.
Kite Realty Group Trust Stock Performance
Shares of Kite Realty Group Trust stock opened at $26.07 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.61 and a current ratio of 1.61. Kite Realty Group Trust has a 1 year low of $21.33 and a 1 year high of $29.92. The firm’s 50-day simple moving average is $27.55 and its 200-day simple moving average is $26.81. The firm has a market cap of $5.22 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 4.02 and a beta of 0.84.
Kite Realty Group Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 9th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 9th. This represents a $1.16 annualized dividend and a yield of 4.4%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 71.60%.
Wall Street Analysts Forecast Growth
KRG has been the subject of a number of analyst reports. Piper Sandler reissued a “neutral” rating and issued a $33.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a report on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Kite Realty Group Trust in a report on Wednesday, July 15th. Citigroup reaffirmed a “neutral” rating and issued a $31.00 target price (up from $27.00) on shares of Kite Realty Group Trust in a research report on Monday, August 3rd. Wells Fargo & Company set a $31.00 target price on Kite Realty Group Trust and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Finally, Jefferies Financial Group raised shares of Kite Realty Group Trust to a “hold” rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Hold” and an average target price of $30.00.
View Our Latest Stock Report on KRG
Kite Realty Group Trust Company Profile
Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.
Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.
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