VIRGINIA RETIREMENT SYSTEMS ET Al Buys 182,350 Shares of Kite Realty Group Trust $KRG

Key Points

• Virginia Retirement Systems ET Al nearly doubled its stake in Kite Realty Group Trust, buying 182,350 additional shares in the fourth quarter and bringing its total holding to 365,777 shares worth about $8.8 million.
• Several other institutional investors also increased positions, and institutional ownership stands at 90.81%, highlighting strong interest from large investors in KRG.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average target price of $26.38, while the company recently reported a slight EPS miss, but also announced a quarterly dividend of $0.29 per share, yielding about 4.4%.

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 99.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 365,777 shares of the real estate investment trust's stock after acquiring an additional 182,350 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.17% of Kite Realty Group Trust worth $8,768,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Centersquare Investment Management LLC lifted its holdings in shares of Kite Realty Group Trust by 9.9% during the 3rd quarter. Centersquare Investment Management LLC now owns 8,130,960 shares of the real estate investment trust's stock worth $181,320,000 after acquiring an additional 733,378 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Kite Realty Group Trust by 6.9% during the 3rd quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust's stock worth $142,009,000 after acquiring an additional 411,465 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kite Realty Group Trust by 5.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,275,968 shares of the real estate investment trust's stock worth $73,052,000 after acquiring an additional 165,889 shares during the last quarter. Lasalle Investment Management Securities LLC raised its position in Kite Realty Group Trust by 177.3% in the 3rd quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust's stock worth $62,779,000 after purchasing an additional 1,799,866 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Kite Realty Group Trust by 6.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,135,421 shares of the real estate investment trust's stock worth $51,186,000 after purchasing an additional 124,864 shares during the period. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KRG. Wells Fargo & Company lifted their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Wall Street Zen cut shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Citigroup reiterated a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Robert W. Baird lifted their target price on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings upgraded shares of Kite Realty Group Trust from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Kite Realty Group Trust has an average rating of "Hold" and an average target price of $26.38.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $26.22 on Thursday. The stock has a market cap of $5.32 billion, a PE ratio of 19.71, a PEG ratio of 4.14 and a beta of 0.86. The company's fifty day moving average is $25.56 and its 200 day moving average is $24.27. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $26.88.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $200.70 million for the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Research analysts anticipate that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 9th. Kite Realty Group Trust's dividend payout ratio is 87.22%.

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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