California State Teachers Retirement System Raises Stake in Kite Realty Group Trust $KRG

Key Points

• California State Teachers Retirement System increased its Kite Realty Group Trust stake by 26% in the first quarter, owning 263,946 shares valued at approximately $6.48 million. Institutional investors collectively hold 90.81% of KRG’s stock.
• Analyst sentiment remains largely neutral, with KRG carrying a consensus “Hold” rating and an average price target of $30.14; recent targets range from $30 to $34.
• KRG reported quarterly earnings of $0.79 per share, well above the $0.11 consensus estimate, while revenue came in at $196.26 million. The REIT also declared a quarterly dividend of $0.29 per share, representing a 4.2% annualized yield.

California State Teachers Retirement System raised its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 26.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 263,946 shares of the real estate investment trust's stock after purchasing an additional 54,425 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Kite Realty Group Trust worth $6,480,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $25,000. Arax Advisory Partners increased its position in Kite Realty Group Trust by 182.0% in the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 726 shares during the period. EverSource Wealth Advisors LLC increased its position in Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 740 shares during the period. Bessemer Group Inc. raised its stake in Kite Realty Group Trust by 44.4% during the 1st quarter. Bessemer Group Inc. now owns 1,519 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 467 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in Kite Realty Group Trust during the 3rd quarter valued at approximately $49,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KRG. LADENBURG THALM/SH SH lifted their target price on Kite Realty Group Trust from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Wells Fargo & Company set a $32.00 target price on Kite Realty Group Trust and gave the company an "overweight" rating in a report on Thursday, July 23rd. Wall Street Zen upgraded Kite Realty Group Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group reaffirmed a "neutral" rating and set a $30.00 price target (up from $28.00) on shares of Kite Realty Group Trust in a report on Thursday, July 9th. Finally, Jefferies Financial Group upgraded shares of Kite Realty Group Trust to a "hold" rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Kite Realty Group Trust currently has an average rating of "Hold" and a consensus price target of $30.14.

Kite Realty Group Trust Trading Down 0.5%

NYSE KRG opened at $27.36 on Thursday. The stock has a market capitalization of $5.48 billion, a P/E ratio of 16.89, a P/E/G ratio of 4.06 and a beta of 0.86. Kite Realty Group Trust has a 52-week low of $20.86 and a 52-week high of $29.92. The firm has a 50-day moving average price of $28.48 and a 200 day moving average price of $26.44. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.99.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.68. Kite Realty Group Trust had a return on equity of 11.26% and a net margin of 41.80%.The company had revenue of $196.26 million for the quarter, compared to analyst estimates of $197.32 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Equities research analysts expect that Kite Realty Group Trust will post 2.1 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 9th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 71.60%.

Kite Realty Group Trust Profile

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.

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