State of New Jersey Common Pension Fund D Cuts Stock Position in Kite Realty Group Trust (NYSE:KRG)

State of New Jersey Common Pension Fund D lessened its stake in Kite Realty Group Trust (NYSE:KRG) by 16.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 210,110 shares of the real estate investment trust’s stock after selling 41,441 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.10% of Kite Realty Group Trust worth $4,702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. United Services Automobile Association increased its holdings in Kite Realty Group Trust by 4.6% in the 2nd quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 777 shares in the last quarter. LSV Asset Management grew its holdings in shares of Kite Realty Group Trust by 15.8% during the second quarter. LSV Asset Management now owns 1,071,300 shares of the real estate investment trust’s stock worth $23,976,000 after buying an additional 146,300 shares in the last quarter. Custom Index Systems LLC grew its holdings in shares of Kite Realty Group Trust by 10.7% during the second quarter. Custom Index Systems LLC now owns 11,374 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 1,104 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Kite Realty Group Trust by 13.9% during the second quarter. Los Angeles Capital Management LLC now owns 27,546 shares of the real estate investment trust’s stock worth $616,000 after buying an additional 3,355 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Kite Realty Group Trust by 2.0% during the second quarter. Arizona State Retirement System now owns 61,479 shares of the real estate investment trust’s stock worth $1,376,000 after buying an additional 1,186 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 0.2 %

NYSE KRG opened at $26.78 on Tuesday. The firm’s 50-day moving average is $24.76 and its two-hundred day moving average is $22.55. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.10. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $5.88 billion, a P/E ratio of 103.00, a PEG ratio of 3.97 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be given a $0.26 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 3.88%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is presently 400.00%.

Wall Street Analyst Weigh In

KRG has been the subject of a number of research reports. KeyCorp upped their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Piper Sandler upped their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Robert W. Baird upped their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, Compass Point boosted their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.00.

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.