Teacher Retirement System of Texas Purchases 4,532 Shares of Kite Realty Group Trust (NYSE:KRG)

Teacher Retirement System of Texas raised its position in Kite Realty Group Trust (NYSE:KRG) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,342 shares of the real estate investment trust’s stock after buying an additional 4,532 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of Kite Realty Group Trust worth $2,785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Kite Realty Group Trust by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock valued at $150,865,000 after acquiring an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Kite Realty Group Trust by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock valued at $94,039,000 after purchasing an additional 73,926 shares during the period. Franklin Resources Inc. grew its position in shares of Kite Realty Group Trust by 51.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after purchasing an additional 673,976 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Kite Realty Group Trust by 432.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock worth $36,150,000 after purchasing an additional 1,105,539 shares during the period. Finally, Aew Capital Management L P acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $31,663,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company lowered their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Piper Sandler reiterated a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Finally, Raymond James reduced their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 10th. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $22.50 on Wednesday. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. 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 company has a market cap of $4.94 billion, a price-to-earnings ratio of 1,125.00, a PEG ratio of 3.57 and a beta of 1.30. The firm has a 50 day simple moving average of $22.76 and a 200 day simple moving average of $24.91.

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

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Wednesday, April 9th. 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.