Retirement Systems of Alabama Trims Holdings in Kite Realty Group Trust (NYSE:KRG)

Retirement Systems of Alabama decreased its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,827 shares of the real estate investment trust’s stock after selling 4,217 shares during the period. Retirement Systems of Alabama owned 0.12% of Kite Realty Group Trust worth $7,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Eagle Asset Management Inc. purchased a new position in Kite Realty Group Trust during the 3rd quarter valued at $7,486,000. Versor Investments LP bought a new position in shares of Kite Realty Group Trust in the 3rd quarter worth approximately $537,000. Systematic Financial Management LP raised its position in shares of Kite Realty Group Trust by 34.0% in the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock worth $15,410,000 after acquiring an additional 174,797 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Kite Realty Group Trust by 118.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock valued at $2,784,000 after purchasing an additional 67,542 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Kite Realty Group Trust by 105.1% during the 3rd quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock valued at $1,279,000 after buying an additional 24,679 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $25.99 on Wednesday. The firm has a market cap of $5.71 billion, a PE ratio of -649.75, a P/E/G ratio of 3.81 and a beta of 1.28. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $26.60 and a two-hundred day simple moving average of $25.06.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.27 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s payout ratio is currently -2,700.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KRG. Robert W. Baird lifted their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Piper Sandler boosted their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Compass Point raised their price objective on 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. KeyCorp lifted their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.86.

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.