State of New Jersey Common Pension Fund D Sells 10,096 Shares of Kite Realty Group Trust (NYSE:KRG)

State of New Jersey Common Pension Fund D reduced its position in Kite Realty Group Trust (NYSE:KRGGet Rating) by 7.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,536 shares of the real estate investment trust’s stock after selling 10,096 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Kite Realty Group Trust worth $2,041,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Comerica Bank lifted its holdings in shares of Kite Realty Group Trust by 2.8% in the 3rd quarter. Comerica Bank now owns 142,882 shares of the real estate investment trust’s stock worth $2,592,000 after purchasing an additional 3,945 shares in the last quarter. ACG Wealth purchased a new stake in Kite Realty Group Trust in the 2nd quarter valued at $79,000. Clearbridge Investments LLC raised its position in Kite Realty Group Trust by 5.5% in the 2nd quarter. Clearbridge Investments LLC now owns 1,002,595 shares of the real estate investment trust’s stock valued at $17,335,000 after buying an additional 51,858 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Kite Realty Group Trust by 14.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,356 shares of the real estate investment trust’s stock valued at $490,000 after buying an additional 3,506 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Kite Realty Group Trust in the 3rd quarter valued at $1,004,000. 96.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Steven P. Grimes sold 12,946 shares of Kite Realty Group Trust stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $22.35, for a total value of $289,343.10. Following the completion of the sale, the director now owns 778,506 shares of the company’s stock, valued at approximately $17,399,609.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Steven P. Grimes sold 32,054 shares of Kite Realty Group Trust stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $22.22, for a total value of $712,239.88. Following the completion of the sale, the director now owns 791,452 shares of the company’s stock, valued at approximately $17,586,063.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven P. Grimes sold 12,946 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $22.35, for a total value of $289,343.10. Following the completion of the transaction, the director now owns 778,506 shares of the company’s stock, valued at approximately $17,399,609.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,500 shares of company stock valued at $2,013,888. 1.30% of the stock is owned by insiders.

Kite Realty Group Trust Trading Down 1.6 %

Shares of KRG opened at $20.26 on Friday. The business has a 50-day moving average of $21.48 and a 200 day moving average of $19.89. Kite Realty Group Trust has a fifty-two week low of $16.42 and a fifty-two week high of $23.35. The firm has a market cap of $4.44 billion, a P/E ratio of -34.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.15 and a current ratio of 1.15.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, January 6th were issued a $0.24 dividend. The ex-dividend date was Thursday, January 5th. This represents a $0.96 annualized dividend and a yield of 4.74%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.22. Kite Realty Group Trust’s dividend payout ratio (DPR) is -165.52%.

Wall Street Analyst Weigh In

KRG has been the subject of a number of analyst reports. Bank of America raised Kite Realty Group Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.00 to $25.00 in a research report on Wednesday, November 9th. Raymond James lowered their price target on Kite Realty Group Trust from $27.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 4th. Robert W. Baird lowered Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $25.00 in a research report on Thursday, January 5th. StockNews.com lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Friday, December 9th. Finally, Barclays raised their target price on Kite Realty Group Trust from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.25.

Kite Realty Group Trust Company Profile

(Get Rating)

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

Further Reading

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

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