Louisiana State Employees Retirement System Has $1.62 Million Holdings in Kite Realty Group Trust (NYSE:KRG)

Louisiana State Employees Retirement System decreased its position in shares of Kite Realty Group Trust (NYSE:KRG) by 1.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 60,900 shares of the real estate investment trust’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Kite Realty Group Trust were worth $1,618,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Kite Realty Group Trust by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after purchasing an additional 881,502 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kite Realty Group Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after acquiring an additional 190,380 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Kite Realty Group Trust by 17.7% in the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after acquiring an additional 386,566 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Kite Realty Group Trust by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after acquiring an additional 32,493 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Kite Realty Group Trust by 16.6% during the 2nd quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock valued at $46,566,000 after purchasing an additional 295,708 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KRG. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Friday, August 16th. Compass Point lifted their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Finally, Piper Sandler raised their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Kite Realty Group Trust Trading Down 1.3 %

Shares of KRG opened at $25.69 on Friday. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.15. The company has a market capitalization of $5.64 billion, a P/E ratio of -233.55, a P/E/G ratio of 3.99 and a beta of 1.29. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The firm’s 50 day simple moving average is $26.07 and its 200 day simple moving average is $23.68.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.20%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently -945.45%.

Kite Realty Group Trust Company 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.