Kite Realty Group Trust (NYSE:KRG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 388,319 shares of the real estate investment trust’s stock after selling 723 shares during the period. New York State Teachers Retirement System owned approximately 0.18% of Kite Realty Group Trust worth $8,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KRG. Raymond James & Associates grew its holdings in Kite Realty Group Trust by 32.3% during the first quarter. Raymond James & Associates now owns 116,703 shares of the real estate investment trust’s stock worth $2,657,000 after acquiring an additional 28,495 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Kite Realty Group Trust by 14.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 67,735 shares of the real estate investment trust’s stock valued at $1,542,000 after purchasing an additional 8,554 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Kite Realty Group Trust by 18.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,700 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 1,067 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in Kite Realty Group Trust in the first quarter valued at $448,000. Finally, Bank of Montreal Can grew its holdings in Kite Realty Group Trust by 16.8% in the first quarter. Bank of Montreal Can now owns 26,095 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 3,760 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 1.3 %

Shares of NYSE:KRG opened at $20.18 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.79. Kite Realty Group Trust has a 52-week low of $19.16 and a 52-week high of $24.26. The stock’s fifty day simple moving average is $21.16 and its 200-day simple moving average is $21.40. The company has a market capitalization of $4.43 billion, a P/E ratio of 91.73, a P/E/G ratio of 2.98 and a beta of 1.29.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, April 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.00 annualized dividend and a dividend yield of 4.96%. Kite Realty Group Trust’s dividend payout ratio is currently 454.57%.

Analyst Ratings Changes

KRG has been the topic of several research reports. Piper Sandler upped their target price on Kite Realty Group Trust from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

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.