New York State Teachers Retirement System Reduces Stock Position in Kite Realty Group Trust $KRG

New York State Teachers Retirement System lessened its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,031 shares of the real estate investment trust’s stock after selling 20,801 shares during the quarter. New York State Teachers Retirement System owned approximately 0.17% of Kite Realty Group Trust worth $8,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KRG. First Horizon Corp purchased a new stake in shares of Kite Realty Group Trust during the third quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 740 shares during the period. Danske Bank A S acquired a new stake in Kite Realty Group Trust during the third quarter worth approximately $49,000. Versant Capital Management Inc boosted its position in Kite Realty Group Trust by 21.4% during the third quarter. Versant Capital Management Inc now owns 3,085 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 544 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new stake in Kite Realty Group Trust in the 3rd quarter worth approximately $78,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Down 0.6%

Shares of KRG opened at $26.18 on Tuesday. Kite Realty Group Trust has a fifty-two week low of $20.86 and a fifty-two week high of $26.82. The company’s fifty day moving average is $25.49 and its two-hundred day moving average is $24.08. The firm has a market cap of $5.32 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 4.77 and a beta of 0.86. 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 (NYSE:KRG) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.The firm had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $198.37 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Analysts forecast that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

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 issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, July 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 87.22%.

Analysts Set New Price Targets

KRG has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Citigroup reaffirmed a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Robert W. Baird upped their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. UBS Group reiterated a “neutral” rating and set a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Finally, Weiss Ratings raised Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research note 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.com, the stock presently has an average rating of “Hold” and an average target price of $26.38.

About Kite Realty Group Trust

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.