Teachers Retirement System of The State of Kentucky Reduces Stock Position in Kite Realty Group Trust (NYSE:KRG)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,114 shares of the real estate investment trust’s stock after selling 3,390 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Kite Realty Group Trust were worth $1,669,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Kite Realty Group Trust by 0.8% in 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 acquiring an additional 256,476 shares during the period. JPMorgan Chase & Co. raised its position in Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock worth $308,317,000 after purchasing an additional 2,308,613 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Kite Realty Group Trust by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock worth $94,039,000 after purchasing an additional 73,926 shares during the last quarter. Norges Bank purchased a new position in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $91,335,000. Finally, Invesco Ltd. grew its stake in shares of Kite Realty Group Trust by 36.5% during the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust’s stock valued at $75,038,000 after buying an additional 794,651 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $21.84 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The company has a 50 day moving average price of $21.79 and a 200-day moving average price of $24.06. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24. The stock has a market capitalization of $4.80 billion, a PE ratio of 1,092.00, a PEG ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. Equities analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KRG shares. JPMorgan Chase & Co. dropped their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Piper Sandler reissued a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Raymond James reduced their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Finally, 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 report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average target price of $27.88.

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.