State of New Jersey Common Pension Fund D Buys 15,089 Shares of Kite Realty Group Trust $KRG

Key Points

• The State of New Jersey Common Pension Fund D increased its holdings in Kite Realty Group Trust by 6.3%, acquiring an additional 15,089 shares to reach a total of 253,446 shares valued at approximately $5.67 million.
• Kite Realty Group Trust announced a quarterly dividend of $0.27, which will be paid on October 16, 2023, representing an annualized yield of 5.0% and a payout ratio of 136.71%.
• The stock price of Kite Realty Group Trust is currently at $21.42, with a market capitalization of $4.71 billion, and it has a recent earnings per share of $0.51, meeting analyst expectations.

State of New Jersey Common Pension Fund D grew its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 253,446 shares of the real estate investment trust's stock after acquiring an additional 15,089 shares during the period. State of New Jersey Common Pension Fund D owned about 0.12% of Kite Realty Group Trust worth $5,670,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Aberdeen Group plc raised its stake in shares of Kite Realty Group Trust by 5.6% during the first quarter. Aberdeen Group plc now owns 75,085 shares of the real estate investment trust's stock valued at $1,680,000 after acquiring an additional 3,999 shares during the last quarter. Fox Run Management L.L.C. increased its position in shares of Kite Realty Group Trust by 79.6% during the first quarter. Fox Run Management L.L.C. now owns 75,284 shares of the real estate investment trust's stock worth $1,684,000 after buying an additional 33,368 shares during the period. Vestmark Advisory Solutions Inc. increased its position in shares of Kite Realty Group Trust by 61.3% during the first quarter. Vestmark Advisory Solutions Inc. now owns 39,656 shares of the real estate investment trust's stock worth $887,000 after buying an additional 15,065 shares during the period. Vision Capital Corp acquired a new stake in shares of Kite Realty Group Trust during the first quarter worth $12,304,000. Finally, Dagco Inc. acquired a new stake in shares of Kite Realty Group Trust during the first quarter worth $92,000. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Up 4.1%

Shares of NYSE KRG traded up $0.8940 during mid-day trading on Friday, reaching $22.7640. 1,708,698 shares of the company's stock traded hands, compared to its average volume of 1,774,952. The stock has a market cap of $5.00 billion, a P/E ratio of 28.82, a PEG ratio of 6.05 and a beta of 1.16. The business has a 50-day simple moving average of $22.33 and a 200 day simple moving average of $22.18. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.51. The firm had revenue of $211.18 million during the quarter, compared to analysts' expectations of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 136.71%.

Analyst Upgrades and Downgrades

KRG has been the subject of several recent analyst reports. Piper Sandler reiterated a "neutral" rating and set a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Raymond James Financial reduced their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Friday, May 23rd. UBS Group initiated coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target for the company. Finally, Wall Street Zen cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.11.

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.