Teacher Retirement System of Texas Decreases Holdings in Kite Realty Group Trust (NYSE:KRG)

Teacher Retirement System of Texas cut its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 44.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,784 shares of the real estate investment trust's stock after selling 48,558 shares during the quarter. Teacher Retirement System of Texas' holdings in Kite Realty Group Trust were worth $1,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Kite Realty Group Trust during the first quarter worth $25,000. Smallwood Wealth Investment Management LLC bought a new position in Kite Realty Group Trust during the first quarter worth $25,000. Optiver Holding B.V. boosted its stake in Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 467 shares in the last quarter. CX Institutional bought a new position in Kite Realty Group Trust during the first quarter worth $79,000. Finally, FIL Ltd boosted its stake in Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 579 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Up 0.8%

Shares of KRG traded up $0.18 during trading hours on Wednesday, reaching $22.35. 1,535,547 shares of the stock traded hands, compared to its average volume of 1,717,904. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $22.47 and a 200 day simple moving average of $22.48. Kite Realty Group Trust has a 52 week low of $18.52 and a 52 week high of $28.24. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 319.27, a PEG ratio of 6.90 and a beta of 1.09.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. On average, equities analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.83%. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 1,542.86%.

Analyst Ratings Changes

A number of research analysts have weighed in on KRG shares. UBS Group started coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Raymond James Financial dropped their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 23rd. Finally, Wall Street Zen lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.