Public Employees Retirement Association of Colorado Sells 1,718 Shares of Kite Realty Group Trust (NYSE:KRG)

Public Employees Retirement Association of Colorado lowered its position in Kite Realty Group Trust (NYSE:KRG) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,240 shares of the real estate investment trust’s stock after selling 1,718 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Kite Realty Group Trust were worth $677,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in Kite Realty Group Trust by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock worth $2,745,000 after buying an additional 649 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Kite Realty Group Trust by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock valued at $5,973,000 after acquiring an additional 724 shares in the last quarter. United Services Automobile Association raised its position in Kite Realty Group Trust by 4.6% in the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock worth $398,000 after purchasing an additional 777 shares in the last quarter. UniSuper Management Pty Ltd lifted its stake in Kite Realty Group Trust by 1.5% during the first quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock worth $1,352,000 after purchasing an additional 900 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Kite Realty Group Trust by 42.7% during the second quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 992 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $26.70 on Thursday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 102.68, a PEG ratio of 4.06 and a beta of 1.29. The firm’s 50 day moving average is $25.28 and its 200-day moving average is $22.80. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.15.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be paid a $0.26 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 384.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KRG. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Piper Sandler boosted their target price on shares of 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. Compass Point increased 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. KeyCorp boosted their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Insider Transactions at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the sale, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

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.