Teacher Retirement System of Texas Sells 48,558 Shares of Kite Realty Group Trust (NYSE:KRG)

Teacher Retirement System of Texas trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 44.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KRG. Vanguard Group Inc. raised its stake in Kite Realty Group Trust by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust’s stock valued at $845,708,000 after purchasing an additional 256,476 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Kite Realty Group Trust by 23.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after purchasing an additional 2,308,613 shares in the last quarter. Millennium Management LLC raised its stake in Kite Realty Group Trust by 17.1% during the fourth quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust’s stock valued at $98,074,000 after purchasing an additional 567,284 shares in the last quarter. Bank of America Corp DE raised its stake in Kite Realty Group Trust by 9.0% during the fourth quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust’s stock valued at $95,543,000 after purchasing an additional 311,258 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Kite Realty Group Trust by 17.5% during the fourth quarter. Northern Trust Corp now owns 3,623,860 shares of the real estate investment trust’s stock valued at $91,466,000 after purchasing an additional 539,322 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Up 0.1%

NYSE:KRG opened at $22.51 on Friday. The stock has a market capitalization of $4.95 billion, a P/E ratio of 321.50, a P/E/G ratio of 5.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.07 and a current ratio of 1.07. The company’s 50-day simple moving average is $22.46 and its 200-day simple moving average is $22.52. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24.

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

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust’s dividend payout ratio is presently 1,542.86%.

Wall Street Analysts Forecast Growth

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

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.