New York State Teachers Retirement System Sells 23,016 Shares of Kite Realty Group Trust (NYSE:KRG)

New York State Teachers Retirement System cut its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,881 shares of the real estate investment trust's stock after selling 23,016 shares during the period. New York State Teachers Retirement System owned approximately 0.17% of Kite Realty Group Trust worth $9,718,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KRG. State of Michigan Retirement System increased its position in shares of Kite Realty Group Trust by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 53,895 shares of the real estate investment trust's stock valued at $1,168,000 after purchasing an additional 1,300 shares during the period. State of Alaska Department of Revenue grew its holdings 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 acquiring an additional 649 shares during the period. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust in the first quarter worth about $42,000. Daiwa Securities Group Inc. lifted its holdings in Kite Realty Group Trust by 430.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 352,219 shares of the real estate investment trust's stock valued at $7,636,000 after acquiring an additional 285,856 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Kite Realty Group Trust by 17.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 279,606 shares of the real estate investment trust's stock valued at $6,062,000 after purchasing an additional 42,457 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company raised shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Compass Point raised their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Piper Sandler boosted their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. KeyCorp upped their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. Finally, Robert W. Baird boosted their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Three investment 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. According to data from MarketBeat, Kite Realty Group Trust presently 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 that occurred on 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 owns 732,252 shares of the company's stock, valued at approximately $19,624,353.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

Kite Realty Group Trust Stock Up 2.8 %

Shares of NYSE KRG traded up $0.71 during mid-day trading on Monday, reaching $26.51. The company had a trading volume of 1,736,481 shares, compared to its average volume of 1,592,610. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.08 and a current ratio of 3.08. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $27.15. The stock's 50 day moving average is $26.08 and its 200-day moving average is $23.79. The stock has a market capitalization of $5.82 billion, a PE ratio of -645.00, a price-to-earnings-growth ratio of 3.91 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given 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 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust's dividend payout ratio is presently -2,600.00%.

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.