Kite Realty Group Trust (NYSE:KRG) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in Kite Realty Group Trust (NYSE:KRGFree Report) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,895 shares of the real estate investment trust’s stock after acquiring an additional 1,300 shares during the quarter. State of Michigan Retirement System’s holdings in Kite Realty Group Trust were worth $1,168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter worth $39,000. Wolverine Asset Management LLC increased its position in shares of Kite Realty Group Trust by 280.5% during the 4th quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,327 shares during the last quarter. Blue Trust Inc. increased its position in shares of Kite Realty Group Trust by 41.7% during the 4th quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 742 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Kite Realty Group Trust during the 4th quarter worth about $107,000. Finally, VitalStone Financial LLC acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth about $161,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KRG shares. Wells Fargo & Company raised their price objective on Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Check Out Our Latest Stock Report on Kite Realty Group Trust

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $22.19 on Friday. The company has a market cap of $4.87 billion, a P/E ratio of 85.35, a P/E/G ratio of 5.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.72 and a quick ratio of 2.72. The stock has a 50-day moving average of $21.64 and a two-hundred day moving average of $21.54. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $24.26.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Tuesday, July 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Tuesday, July 9th. Kite Realty Group Trust’s dividend payout ratio is currently 384.62%.

About Kite Realty Group Trust

(Free Report)

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.

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

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