Employees Retirement System of Texas Acquires 106,000 Shares of Kite Realty Group Trust (NYSE:KRG)

Employees Retirement System of Texas boosted its holdings in Kite Realty Group Trust (NYSE:KRG) by 110.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,000 shares of the real estate investment trust’s stock after purchasing an additional 106,000 shares during the period. Employees Retirement System of Texas’ holdings in Kite Realty Group Trust were worth $5,098,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Kite Realty Group Trust in the third quarter worth about $39,000. Versant Capital Management Inc increased its stake in Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,080 shares during the period. Spectrum Wealth Counsel LLC bought a new stake in Kite Realty Group Trust in the fourth quarter valued at approximately $101,000. Headlands Technologies LLC purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $116,000. Finally, GAMMA Investing LLC grew its holdings in shares of Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 652 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KRG shares. Raymond James lowered their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, March 10th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler restated a “neutral” rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $20.17 on Tuesday. The company has a 50-day simple moving average of $22.50 and a two-hundred day simple moving average of $24.63. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $4.43 billion, a PE ratio of 1,008.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24.

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, topping analysts’ consensus estimates 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, analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.35%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 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.