Teacher Retirement System of Texas Cuts Holdings in Kite Realty Group Trust (NYSE:KRG)

Teacher Retirement System of Texas reduced its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 44.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,784 shares of the real estate investment trust’s stock after selling 48,558 shares during the quarter. Teacher Retirement System of Texas’ holdings in Kite Realty Group Trust were worth $1,382,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in KRG. Opal Wealth Advisors LLC acquired a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $25,000. Optiver Holding B.V. raised its stake in shares of Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 467 shares in the last quarter. CX Institutional purchased a new position in Kite Realty Group Trust in the 1st quarter valued at approximately $79,000. Finally, FIL Ltd increased its stake in Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 579 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Up 0.1%

NYSE:KRG opened at $22.51 on Friday. The business’s 50-day moving average is $22.46 and its two-hundred day moving average is $22.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The firm has a market capitalization of $4.95 billion, a PE ratio of 321.50, a price-to-earnings-growth ratio of 5.74 and a beta of 1.09.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. The business had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. Research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust’s dividend payout ratio is currently 1,542.86%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group assumed coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price objective for the company. Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Wall Street Zen cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Finally, Raymond James Financial decreased their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.22.

Kite Realty Group Trust Company Profile

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.