Louisiana State Employees Retirement System Buys 6,000 Shares of Kite Realty Group Trust (NYSE:KRG)

Posted by Defense World Staff on Oct 4th, 2023

Louisiana State Employees Retirement System grew its stake in Kite Realty Group Trust (NYSE:KRG – Free Report) by 10.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,100 shares of the real estate investment trust’s stock after purchasing an additional 6,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kite Realty Group Trust were worth $1,432,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Raymond James & Associates lifted its position in shares of Kite Realty Group Trust by 32.3% during the first quarter. Raymond James & Associates now owns 116,703 shares of the real estate investment trust’s stock valued at $2,657,000 after purchasing an additional 28,495 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Kite Realty Group Trust by 14.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 67,735 shares of the real estate investment trust’s stock worth $1,542,000 after buying an additional 8,554 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Kite Realty Group Trust by 18.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,700 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 1,067 shares during the last quarter. Natixis Advisors L.P. bought a new stake in Kite Realty Group Trust during the first quarter worth $448,000. Finally, Bank of Montreal Can grew its stake in Kite Realty Group Trust by 16.8% in 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 purchasing an additional 3,760 shares during the period. Institutional investors own 97.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on KRG shares. Barclays increased their price objective on Kite Realty Group Trust from $27.00 to $28.00 in a report on Wednesday, June 21st. Raymond James cut Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, September 5th. Wells Fargo & Company increased their target price on shares of Kite Realty Group Trust from $20.00 to $23.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 9th. StockNews.com initiated coverage on shares of Kite Realty Group Trust in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Bank of America lifted their price objective on shares of Kite Realty Group Trust from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.86.

Check Out Our Latest Stock Report on Kite Realty Group Trust

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $20.42 on Wednesday. The stock’s 50-day simple moving average is $22.52 and its two-hundred day simple moving average is $21.46. Kite Realty Group Trust has a twelve month low of $16.99 and a twelve month high of $24.26. The firm has a market capitalization of $4.48 billion, a P/E ratio of 170.18, a P/E/G ratio of 2.17 and a beta of 1.39. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.79.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, October 6th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.96 annualized dividend and a yield of 4.70%. Kite Realty Group Trust’s payout ratio is presently 800.07%.

Kite Realty Group Trust 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.