Louisiana State Employees Retirement System Buys Shares of 62,800 Kite Realty Group Trust $KRG

Louisiana State Employees Retirement System purchased a new stake in Kite Realty Group Trust (NYSE:KRG) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 62,800 shares of the real estate investment trust’s stock, valued at approximately $1,542,000.

Other hedge funds have also modified their holdings of the company. Cohen & Steers Inc. raised its stake in shares of Kite Realty Group Trust by 26.3% in the 4th quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock valued at $630,805,000 after acquiring an additional 5,486,116 shares during the period. Centersquare Investment Management LLC boosted its position in shares of Kite Realty Group Trust by 1.3% during the 4th quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust’s stock worth $197,436,000 after purchasing an additional 105,830 shares during the period. Bank of America Corp DE increased its holdings in Kite Realty Group Trust by 6.9% in the 3rd quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust’s stock valued at $142,009,000 after purchasing an additional 411,465 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kite Realty Group Trust by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,812,897 shares of the real estate investment trust’s stock valued at $91,395,000 after purchasing an additional 93,580 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Kite Realty Group Trust by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,275,968 shares of the real estate investment trust’s stock valued at $73,052,000 after purchasing an additional 165,889 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $28.30 on Thursday. The firm has a 50 day moving average of $27.33 and a two-hundred day moving average of $25.56. The stock has a market capitalization of $5.75 billion, a PE ratio of 21.27, a P/E/G ratio of 4.01 and a beta of 0.85. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $29.40.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $200.70 million for the quarter, compared to analysts’ expectations of $198.37 million. Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. On average, research analysts predict that Kite Realty Group Trust will post 2.09 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, July 9th. Kite Realty Group Trust’s payout ratio is presently 87.22%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KRG shares. LADENBURG THALM/SH SH upped their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Wells Fargo & Company reiterated an “overweight” rating and issued a $29.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a report on Tuesday, May 26th. Jefferies Financial Group raised Kite Realty Group Trust to a “hold” rating in a research note on Friday, June 26th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $28.00 target price (up from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Kite Realty Group Trust has a consensus rating of “Hold” and a consensus price target of $27.43.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.