Texas Permanent School Fund Raises Stake in Kite Realty Group Trust (KRG)

Texas Permanent School Fund lifted its position in shares of Kite Realty Group Trust (NYSE:KRG) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 54,782 shares of the real estate investment trust’s stock after purchasing an additional 2,137 shares during the period. Texas Permanent School Fund’s holdings in Kite Realty Group Trust were worth $772,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Kite Realty Group Trust by 3.8% in the fourth quarter. BlackRock Inc. now owns 14,570,902 shares of the real estate investment trust’s stock worth $205,305,000 after purchasing an additional 527,076 shares in the last quarter. Pearl River Capital LLC bought a new position in shares of Kite Realty Group Trust in the fourth quarter worth $37,000. Investment Counselors of Maryland LLC grew its stake in shares of Kite Realty Group Trust by 2.0% in the fourth quarter. Investment Counselors of Maryland LLC now owns 1,675,870 shares of the real estate investment trust’s stock worth $23,613,000 after purchasing an additional 32,171 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Kite Realty Group Trust by 10.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,230 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Kite Realty Group Trust by 32.5% in the fourth quarter. Prudential Financial Inc. now owns 679,641 shares of the real estate investment trust’s stock worth $9,576,000 after purchasing an additional 166,880 shares in the last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.

Several research analysts have recently issued reports on KRG shares. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Bank of America cut Kite Realty Group Trust from a “neutral” rating to an “underperform” rating in a research note on Monday, March 4th. TheStreet raised Kite Realty Group Trust from a “d+” rating to a “c-” rating in a research note on Tuesday, February 19th. ValuEngine upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 15th. Finally, Barclays lowered Kite Realty Group Trust from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $15.00 to $16.00 in a report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Kite Realty Group Trust has a consensus rating of “Hold” and a consensus target price of $16.13.

Shares of NYSE KRG opened at $15.65 on Wednesday. Kite Realty Group Trust has a 12 month low of $13.66 and a 12 month high of $17.75. The firm has a market cap of $1.31 billion, a PE ratio of 7.82, a P/E/G ratio of 1.83 and a beta of 0.87. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Tuesday, February 19th. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. Kite Realty Group Trust had a negative return on equity of 3.15% and a negative net margin of 13.15%. The business had revenue of $86.90 million during the quarter, compared to the consensus estimate of $85.31 million. During the same period in the prior year, the business posted $0.50 earnings per share. Kite Realty Group Trust’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that Kite Realty Group Trust will post 1.71 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 22nd will be paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 8.12%. The ex-dividend date is Thursday, March 21st. Kite Realty Group Trust’s dividend payout ratio is currently 63.50%.

In other Kite Realty Group Trust news, CFO R Fear Heath acquired 7,500 shares of Kite Realty Group Trust stock in a transaction that occurred on Tuesday, February 26th. The stock was purchased at an average cost of $15.79 per share, with a total value of $118,425.00. Following the purchase, the chief financial officer now owns 78,883 shares in the company, valued at $1,245,562.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.93% of the stock is currently owned by corporate insiders.

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Kite Realty Group Trust Profile

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

Read More: What is the Ex-Dividend Date in Investing?

Want to see what other hedge funds are holding KRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Realty Group Trust (NYSE:KRG).

Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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