Louisiana State Employees Retirement System Has $1.62 Million Stake in Kite Realty Group Trust (NYSE:KRG)

Louisiana State Employees Retirement System cut its position in Kite Realty Group Trust (NYSE:KRG) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,900 shares of the real estate investment trust’s stock after selling 1,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kite Realty Group Trust were worth $1,618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 950 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at approximately $42,000. GAMMA Investing LLC boosted its stake in shares of Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Kite Realty Group Trust during the 3rd quarter valued at approximately $45,000. Finally, Quarry LP increased its position in Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

KRG has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Friday, August 16th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Piper Sandler upped their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Compass Point lifted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Insider Transactions at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now owns 732,252 shares in the company, valued at $19,624,353.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $25.69 on Friday. The stock has a market capitalization of $5.64 billion, a PE ratio of -233.55, a PEG ratio of 3.99 and a beta of 1.29. The business’s 50 day simple moving average is $26.07 and its 200 day simple moving average is $23.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.15.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a $0.27 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is currently -945.45%.

About Kite Realty Group Trust

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.