Teachers Retirement System of The State of Kentucky Sells 3,500 Shares of Kite Realty Group Trust (NYSE:KRG)

Teachers Retirement System of The State of Kentucky lessened its stake in Kite Realty Group Trust (NYSE:KRG) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,424 shares of the real estate investment trust’s stock after selling 3,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Kite Realty Group Trust were worth $1,633,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wolverine Asset Management LLC lifted its stake in shares of Kite Realty Group Trust by 280.5% in the fourth quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,327 shares during the period. Blue Trust Inc. lifted its stake in Kite Realty Group Trust by 41.7% during the fourth 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 period. VitalStone Financial LLC bought a new position in Kite Realty Group Trust during the third quarter worth about $161,000. Worth Venture Partners LLC bought a new position in Kite Realty Group Trust during the fourth quarter worth about $217,000. Finally, Custom Index Systems LLC bought a new position in Kite Realty Group Trust during the fourth quarter worth about $244,000. Institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KRG. Wells Fargo & Company raised their price target on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 28th. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $21.92 on Friday. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 84.31, a PEG ratio of 5.51 and a beta of 1.28. The company has a 50 day moving average of $21.39 and a 200-day moving average of $21.57. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.90. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $24.26.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Tuesday, July 9th. Kite Realty Group Trust’s payout ratio is 384.62%.

Kite Realty Group Trust 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.