State of New Jersey Common Pension Fund D Grows Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

State of New Jersey Common Pension Fund D increased its stake in Kite Realty Group Trust (NYSE:KRG) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,110 shares of the real estate investment trust’s stock after purchasing an additional 15,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Kite Realty Group Trust were worth $5,979,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Inspire Investing LLC grew its holdings in shares of Kite Realty Group Trust by 21.3% in the first quarter. Inspire Investing LLC now owns 20,229 shares of the real estate investment trust’s stock worth $439,000 after acquiring an additional 3,559 shares during the period. ProShare Advisors LLC increased its position in shares of Kite Realty Group Trust by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 49,851 shares of the real estate investment trust’s stock valued at $1,081,000 after purchasing an additional 2,242 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth approximately $594,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Kite Realty Group Trust by 13.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 70,299 shares of the real estate investment trust’s stock worth $1,471,000 after buying an additional 8,120 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Kite Realty Group Trust by 2.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 133,434 shares of the real estate investment trust’s stock valued at $2,893,000 after buying an additional 3,671 shares during the period. Institutional investors own 90.81% of the company’s stock.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares in the company, valued at $19,624,353.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KRG shares. Robert W. Baird lifted their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Friday, August 16th. KeyCorp boosted their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $27.45 on Tuesday. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of -686.25, a P/E/G ratio of 4.19 and a beta of 1.29. The firm has a fifty day moving average price of $26.18 and a 200 day moving average price of $23.99. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is -2,600.00%.

Kite Realty Group Trust 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.