New York State Teachers Retirement System grew its holdings in Kite Realty Group Trust (NYSE:KRG – Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 363,120 shares of the real estate investment trust’s stock after acquiring an additional 14,750 shares during the quarter. New York State Teachers Retirement System owned 0.17% of Kite Realty Group Trust worth $7,596,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Accurate Wealth Management LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $27,000. CENTRAL TRUST Co grew its holdings in shares of Kite Realty Group Trust by 91.4% during the third quarter. CENTRAL TRUST Co now owns 1,675 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 800 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Kite Realty Group Trust by 107.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,631 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 846 shares in the last quarter. Covestor Ltd grew its holdings in shares of Kite Realty Group Trust by 7,854.2% during the first quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 1,885 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $46,000. 94.48% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently issued reports on KRG. JPMorgan Chase & Co. began coverage on Kite Realty Group Trust in a report on Monday, April 24th. They set a “neutral” rating and a $23.00 price objective for the company. Barclays raised their price target on Kite Realty Group Trust from $27.00 to $28.00 in a research note on Wednesday, June 21st. Piper Sandler raised their price target on Kite Realty Group Trust from $26.00 to $28.00 in a research note on Monday, May 8th. Wells Fargo & Company began coverage on Kite Realty Group Trust in a research note on Tuesday, May 23rd. They issued an “underweight” rating and a $20.00 price target for the company. Finally, StockNews.com began coverage on Kite Realty Group Trust in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.63.
Kite Realty Group Trust Stock Performance
Kite Realty Group Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, July 7th were given a $0.24 dividend. The ex-dividend date was Thursday, July 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.08%. Kite Realty Group Trust’s payout ratio is 3,200.00%.
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.
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