State of Alaska Department of Revenue Trims Stock Position in Kite Realty Group Trust (NYSE:KRG)

adminLast Updated: 2024-04-05

State of Alaska Department of Revenue cut its holdings in shares of Kite Realty Group Trust (NYSE:KRG – Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 126,054 shares of the real estate investment trust’s stock after selling 3,367 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kite Realty Group Trust were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in Kite Realty Group Trust by 41.7% during the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 742 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Kite Realty Group Trust by 79.0% in the 4th quarter. Pacer Advisors Inc. now owns 32,978 shares of the real estate investment trust’s stock worth $754,000 after purchasing an additional 14,554 shares during the period. Raymond James & Associates raised its holdings in shares of Kite Realty Group Trust by 48.0% in the 4th quarter. Raymond James & Associates now owns 123,874 shares of the real estate investment trust’s stock worth $2,832,000 after purchasing an additional 40,173 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Kite Realty Group Trust by 8.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 316,188 shares of the real estate investment trust’s stock worth $6,773,000 after purchasing an additional 23,333 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Kite Realty Group Trust by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 32,371,645 shares of the real estate investment trust’s stock worth $693,401,000 after purchasing an additional 278,421 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

KRG stock opened at $20.82 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.76. Kite Realty Group Trust has a 1 year low of $19.16 and a 1 year high of $24.26. The firm has a market cap of $4.57 billion, a P/E ratio of 94.64, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29. The stock has a 50-day simple moving average of $21.31 and a 200-day simple moving average of $21.47.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.00 dividend on an annualized basis and a yield of 4.80%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 454.57%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KRG shares. Piper Sandler raised their price objective on Kite Realty Group Trust from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. StockNews.com upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

View Our Latest Analysis on KRG

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.