Arizona State Retirement System Acquires 1,655 Shares of Kite Realty Group Trust (NYSE:KRG)

Posted by Defense World Staff on Jul 23rd, 2023

Arizona State Retirement System boosted its holdings in shares of Kite Realty Group Trust (NYSE:KRG – Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,484 shares of the real estate investment trust’s stock after purchasing an additional 1,655 shares during the quarter. Arizona State Retirement System’s holdings in Kite Realty Group Trust were worth $1,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in Kite Realty Group Trust by 32.3% during the 1st quarter. Raymond James & Associates now owns 116,703 shares of the real estate investment trust’s stock valued at $2,657,000 after buying an additional 28,495 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Kite Realty Group Trust by 14.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 67,735 shares of the real estate investment trust’s stock valued at $1,542,000 after buying an additional 8,554 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Kite Realty Group Trust by 18.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,700 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 1,067 shares in the last quarter. Natixis Advisors L.P. purchased a new position in Kite Realty Group Trust during the 1st quarter valued at approximately $448,000. Finally, Bank of Montreal Can grew its holdings in Kite Realty Group Trust by 16.8% during the 1st quarter. Bank of Montreal Can now owns 26,095 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 3,760 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $23.30 on Friday. Kite Realty Group Trust has a 52-week low of $16.42 and a 52-week high of $23.70. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $5.11 billion, a P/E ratio of 776.67, a P/E/G ratio of 2.23 and a beta of 1.39. The stock has a 50 day moving average price of $21.34 and a 200 day moving average price of $21.04.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, July 7th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Thursday, July 6th. Kite Realty Group Trust’s dividend payout ratio is currently 3,200.00%.

Analyst Ratings Changes

Several research firms have weighed in on KRG. Barclays raised their price target on Kite Realty Group Trust from $27.00 to $28.00 in a report on Wednesday, June 21st. JPMorgan Chase & Co. assumed coverage on Kite Realty Group Trust in a report on Monday, April 24th. They issued a “neutral” rating and a $23.00 target price for the company. Piper Sandler lifted their target price on Kite Realty Group Trust from $26.00 to $28.00 in a report on Monday, May 8th. StockNews.com assumed coverage on Kite Realty Group Trust in a report on Thursday, May 18th. They issued a “sell” rating for the company. Finally, Wells Fargo & Company assumed coverage on Kite Realty Group Trust in a report on Tuesday, May 23rd. They issued an “underweight” rating and a $20.00 target price for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average price target of $24.63.

Kite Realty Group Trust Company Profile

(Free Report)

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.