Kite Realty Group Trust (NYSE:KRG) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in Kite Realty Group Trust (NYSE:KRG) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 274,770 shares of the real estate investment trust’s stock after buying an additional 860 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Kite Realty Group Trust worth $6,281,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Kite Realty Group Trust by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 32,371,645 shares of the real estate investment trust’s stock valued at $693,401,000 after buying an additional 278,421 shares during the period. Deutsche Bank AG lifted its holdings in shares of Kite Realty Group Trust by 7.2% in the 3rd quarter. Deutsche Bank AG now owns 7,545,779 shares of the real estate investment trust’s stock valued at $161,631,000 after buying an additional 508,102 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Kite Realty Group Trust by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,253,294 shares of the real estate investment trust’s stock valued at $69,686,000 after purchasing an additional 63,388 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Kite Realty Group Trust by 1.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,094,540 shares of the real estate investment trust’s stock valued at $44,865,000 after purchasing an additional 24,599 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Kite Realty Group Trust by 156.6% in the 4th quarter. Strs Ohio now owns 1,869,278 shares of the real estate investment trust’s stock valued at $42,731,000 after purchasing an additional 1,140,700 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $21.07 on Friday. Kite Realty Group Trust has a 12 month low of $19.16 and a 12 month high of $24.26. The stock has a 50 day moving average of $21.03 and a two-hundred day moving average of $21.42. The company has a current ratio of 2.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.90. The firm has a market cap of $4.63 billion, a P/E ratio of 81.04, a price-to-earnings-growth ratio of 3.03 and a beta of 1.28.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Tuesday, July 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 5th. This represents a $1.00 annualized dividend and a yield of 4.75%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 384.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KRG. Jefferies Financial Group upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Thursday, April 18th. StockNews.com upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.00.

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.