Kite Realty Group Trust (NYSE:KRG) Stake Boosted by New York State Teachers Retirement System

New York State Teachers Retirement System increased its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,812 shares of the real estate investment trust's stock after purchasing an additional 21,131 shares during the period. New York State Teachers Retirement System owned 0.18% of Kite Realty Group Trust worth $8,653,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Kite Realty Group Trust by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock worth $845,708,000 after purchasing an additional 256,476 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kite Realty Group Trust by 23.3% in the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after buying an additional 2,308,613 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Kite Realty Group Trust by 17.1% in the fourth quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust's stock valued at $98,074,000 after buying an additional 567,284 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Kite Realty Group Trust by 9.0% in the fourth quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust's stock valued at $95,543,000 after buying an additional 311,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Kite Realty Group Trust by 2.0% in the fourth 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 buying an additional 73,926 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Down 0.7%

NYSE:KRG traded down $0.16 during trading hours on Tuesday, hitting $22.49. 1,542,769 shares of the stock traded hands, compared to its average volume of 1,713,708. The firm has a 50 day moving average price of $22.44 and a 200 day moving average price of $22.58. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.89. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 321.29, a PEG ratio of 5.77 and a beta of 1.09.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. Kite Realty Group Trust had a net margin of 1.59% and a return on equity of 0.41%. The business had revenue of $221.76 million for the quarter, compared to analysts' expectations of $211.07 million. Equities research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 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 is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.

Analysts Set New Price Targets

Several research firms have issued reports on KRG. Raymond James Financial dropped their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Friday, May 23rd. UBS Group began coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target on the stock. Wells Fargo & Company dropped their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, Wall Street Zen cut Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $27.22.

Kite Realty Group Trust Company 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.