VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Kite Realty Group Trust $KRG

Key Points

• Virginia Retirement Systems bought 236,213 shares of Kite Realty Group Trust in the second quarter, valued at approximately $6.7 million. Institutional investors collectively own 90.81% of the REIT.
• Analyst sentiment remains mixed: three analysts rate KRG a Buy and seven rate it Hold, producing a consensus rating of Hold and an average price target of $30.00.
• KRG shares opened at $26.07, while the company reported quarterly EPS of $0.79, well above the $0.11 consensus estimate. It also declared a $0.29 quarterly dividend, equivalent to a 4.4% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 236,213 shares of the real estate investment trust's stock, valued at approximately $6,704,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.12% of Kite Realty Group Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Kite Realty Group Trust by 2,405.5% in the 2nd quarter. California State Teachers Retirement System now owns 6,613,164 shares of the real estate investment trust's stock valued at $187,682,000 after purchasing an additional 6,349,218 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Kite Realty Group Trust during the 2nd quarter worth $37,000. HB Wealth Management LLC raised its position in shares of Kite Realty Group Trust by 45.8% in the 2nd quarter. HB Wealth Management LLC now owns 12,864 shares of the real estate investment trust's stock worth $365,000 after buying an additional 4,038 shares during the period. AlphaGrep UK Ltd purchased a new position in shares of Kite Realty Group Trust in the 2nd quarter worth $304,000. Finally, Nykredit A S acquired a new position in Kite Realty Group Trust in the second quarter valued at $230,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KRG shares. Weiss Ratings reissued a "buy (b)" rating on shares of Kite Realty Group Trust in a research report on Wednesday, July 15th. UBS Group reaffirmed a "neutral" rating and issued a $30.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a research note on Thursday, July 9th. LADENBURG THALM/SH SH boosted their target price on Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, July 31st. KeyCorp downgraded shares of Kite Realty Group Trust from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, August 18th. Finally, Piper Sandler restated a "neutral" rating and issued a $33.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of "Hold" and a consensus price target of $30.00.

Kite Realty Group Trust Stock Up 0.4%

Shares of Kite Realty Group Trust stock opened at $26.07 on Wednesday. Kite Realty Group Trust has a twelve month low of $21.33 and a twelve month high of $29.92. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 4.02 and a beta of 0.84. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average price of $27.55 and a 200 day moving average price of $26.81.

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

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 9th will be issued 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 is Friday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 71.60%.

Kite Realty Group Trust Company 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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