62,800 Shares in Kite Realty Group Trust $KRG Purchased by Louisiana State Employees Retirement System

by · The Cerbat Gem

Louisiana State Employees Retirement System purchased a new stake in Kite Realty Group Trust (NYSE:KRG – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 62,800 shares of the real estate investment trust’s stock, valued at approximately $1,542,000.

Several other institutional investors also recently bought and sold shares of KRG. Cohen & Steers Inc. raised its holdings in shares of Kite Realty Group Trust by 26.3% during the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock valued at $630,805,000 after acquiring an additional 5,486,116 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in shares of Kite Realty Group Trust by 1.3% in the fourth quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust’s stock worth $197,436,000 after acquiring an additional 105,830 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Kite Realty Group Trust by 6.9% in the third 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. Charles Schwab Investment Management Inc. increased its position in shares of Kite Realty Group Trust by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,812,897 shares of the real estate investment trust’s stock worth $91,395,000 after purchasing an additional 93,580 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Kite Realty Group Trust by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,275,968 shares of the real estate investment trust’s stock worth $73,052,000 after purchasing an additional 165,889 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $28.30 on Thursday. The business’s 50 day moving average price is $27.33 and its 200 day moving average price is $25.56. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 4.01 and a beta of 0.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.06 and a current ratio of 1.06. Kite Realty Group Trust has a one year low of $20.86 and a one year high of $29.40.

Kite Realty Group Trust (NYSE:KRG – Get Free Report) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. The company 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. On average, research analysts predict that Kite Realty Group Trust will post 2.09 EPS 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. Investors of record on Thursday, July 9th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.1%. Kite Realty Group Trust’s dividend payout ratio is currently 87.22%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company restated an “overweight” rating and issued a $29.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a report on Tuesday, May 26th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. LADENBURG THALM/SH SH increased their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. UBS Group reissued a “neutral” rating and issued a $28.00 price target (up from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, May 18th. Finally, Jefferies Financial Group upgraded shares of Kite Realty Group Trust to a “hold” rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Hold” and an average target price of $27.43.

Check Out Our Latest Stock Report on Kite Realty Group Trust

Kite Realty Group Trust Profile

(Free Report)

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.

See Also

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