New York State Common Retirement Fund Sells 10,390 Shares of Kite Realty Group Trust (NYSE:KRG)

New York State Common Retirement Fund trimmed its stake in Kite Realty Group Trust (NYSE:KRG) by 14.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,092 shares of the real estate investment trust’s stock after selling 10,390 shares during the period. New York State Common Retirement Fund owned about 0.07% of Kite Realty Group Trust worth $1,223,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Strategic Blueprint LLC bought a new position in Kite Realty Group Trust in the second quarter valued at about $47,000. FORA Capital LLC bought a new position in Kite Realty Group Trust in the second quarter valued at about $51,000. Harvest Fund Management Co. Ltd bought a new position in Kite Realty Group Trust in the second quarter valued at about $107,000. William Blair Investment Management LLC bought a new position in Kite Realty Group Trust in the second quarter valued at about $107,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Kite Realty Group Trust by 12.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,315 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 582 shares during the last quarter. Hedge funds and other institutional investors own 39.61% of the company’s stock.

In other news, CEO John A. Kite sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 21st. The stock was sold at an average price of $20.93, for a total transaction of $523,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Kite Realty Group Trust from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a report on Tuesday, November 23rd. Jefferies Financial Group assumed coverage on Kite Realty Group Trust in a research note on Wednesday, October 27th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Robert W. Baird raised Kite Realty Group Trust from a “neutral” rating to an “outperform” rating and increased their target price for the company from $21.00 to $24.00 in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.29.

NYSE:KRG opened at $22.26 on Friday. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 171.24, a PEG ratio of 1.70 and a beta of 1.37. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 1.07. The business’s 50-day moving average price is $21.49 and its two-hundred day moving average price is $21.00. Kite Realty Group Trust has a 1-year low of $15.52 and a 1-year high of $23.14.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Thursday, October 28th. The real estate investment trust reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.41). Kite Realty Group Trust had a return on equity of 0.87% and a net margin of 3.80%. During the same period last year, the business posted $0.30 EPS. Sell-side analysts predict that Kite Realty Group Trust will post 1.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Friday, January 7th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.18. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 584.66%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust operates as a real estate investment trust. It engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded on August 16, 2004 and is headquartered in Indianapolis, IN.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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