State of New Jersey Common Pension Fund D Sells 10,096 Shares of Kite Realty Group Trust (NYSE:KRG)

State of New Jersey Common Pension Fund D decreased its position in Kite Realty Group Trust (NYSE:KRGGet Rating) by 7.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 118,536 shares of the real estate investment trust’s stock after selling 10,096 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Kite Realty Group Trust were worth $2,041,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KRG. Covestor Ltd increased its stake in Kite Realty Group Trust by 7,854.2% in the 1st quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 1,885 shares during the period. Wipfli Financial Advisors LLC purchased a new position in Kite Realty Group Trust in the 3rd quarter worth approximately $58,000. Lazard Asset Management LLC increased its stake in Kite Realty Group Trust by 71.5% in the 2nd quarter. Lazard Asset Management LLC now owns 3,444 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,436 shares during the period. Allworth Financial LP increased its stake in Kite Realty Group Trust by 34.1% in the 3rd quarter. Allworth Financial LP now owns 4,257 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 1,083 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Kite Realty Group Trust by 26.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,527 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 937 shares during the period. Institutional investors own 96.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KRG shares. Piper Sandler lifted their price target on Kite Realty Group Trust to $25.00 in a research note on Wednesday, November 16th. Barclays boosted their target price on Kite Realty Group Trust from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, December 6th. Bank of America raised Kite Realty Group Trust from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.00 to $25.00 in a research note on Wednesday, November 9th. Raymond James reduced their target price on Kite Realty Group Trust from $27.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 4th. Finally, StockNews.com cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, December 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus target price of $25.25.

Kite Realty Group Trust Trading Down 1.6 %

NYSE KRG opened at $20.26 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.78. Kite Realty Group Trust has a twelve month low of $16.42 and a twelve month high of $23.35. The firm has a market capitalization of $4.44 billion, a PE ratio of -34.93, a P/E/G ratio of 1.20 and a beta of 1.35. The stock’s 50 day moving average is $21.48 and its 200 day moving average is $19.89.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, January 6th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.74%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 5th. Kite Realty Group Trust’s payout ratio is -165.52%.

Insiders Place Their Bets

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 12,946 shares of the business’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $22.35, for a total value of $289,343.10. Following the sale, the director now directly owns 778,506 shares of the company’s stock, valued at $17,399,609.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Kite Realty Group Trust news, Director Steven P. Grimes sold 46,500 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $21.77, for a total value of $1,012,305.00. Following the sale, the director now directly owns 823,506 shares of the company’s stock, valued at $17,927,725.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven P. Grimes sold 12,946 shares of the company’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $22.35, for a total value of $289,343.10. Following the transaction, the director now directly owns 778,506 shares in the company, valued at $17,399,609.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,500 shares of company stock valued at $2,013,888. 1.30% of the stock is currently owned by corporate insiders.

Kite Realty Group Trust Company Profile

(Get Rating)

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

Further Reading

Want to see what other hedge funds are holding KRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Realty Group Trust (NYSE:KRGGet Rating).

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

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