New York State Common Retirement Fund Buys 17,015 Shares of Kite Realty Group Trust (NYSE:KRG)

New York State Common Retirement Fund boosted its stake in Kite Realty Group Trust (NYSE:KRG) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,589 shares of the real estate investment trust’s stock after acquiring an additional 17,015 shares during the period. New York State Common Retirement Fund’s holdings in Kite Realty Group Trust were worth $2,741,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D increased its position in Kite Realty Group Trust by 5.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 238,357 shares of the real estate investment trust’s stock worth $6,016,000 after buying an additional 13,247 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Kite Realty Group Trust by 0.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 318,625 shares of the real estate investment trust’s stock worth $7,982,000 after buying an additional 1,387 shares during the last quarter. Van ECK Associates Corp increased its position in Kite Realty Group Trust by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 41,130 shares of the real estate investment trust’s stock worth $1,038,000 after buying an additional 3,811 shares during the last quarter. Retirement Guys Formula LLC purchased a new stake in Kite Realty Group Trust in the fourth quarter worth $300,000. Finally, Wealthstar Advisors LLC purchased a new stake in Kite Realty Group Trust in the fourth quarter worth $372,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KRG. Piper Sandler reissued a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company cut their price target on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Robert W. Baird raised their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price target for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $22.93 on Friday. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 1,146.45, a P/E/G ratio of 3.57 and a beta of 1.27. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The stock has a fifty day moving average of $23.48 and a 200 day moving average of $25.30. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.71%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is 5,400.00%.

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.