Texas Permanent School Fund reduced its stake in Kite Realty Group Trust (NYSE:KRG) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 56,507 shares of the real estate investment trust’s stock after selling 4,520 shares during the quarter. Texas Permanent School Fund’s holdings in Kite Realty Group Trust were worth $1,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of KRG. Zions Bancorporation acquired a new position in Kite Realty Group Trust in the third quarter valued at approximately $111,000. Perigon Wealth Management LLC boosted its stake in Kite Realty Group Trust by 58.1% in the second quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 2,500 shares during the period. Meeder Asset Management Inc. boosted its stake in Kite Realty Group Trust by 374.1% in the third quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 5,623 shares during the period. Cetera Advisors LLC acquired a new position in Kite Realty Group Trust in the third quarter valued at approximately $223,000. Finally, Schroder Investment Management Group acquired a new position in Kite Realty Group Trust in the third quarter valued at approximately $223,000. Institutional investors own 93.84% of the company’s stock.

In related news, CAO Thomas R. Olinger sold 3,157 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.01, for a total transaction of $60,014.57. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John A. Kite sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $20.09, for a total value of $341,530.00. Following the sale, the chief executive officer now directly owns 52,712 shares in the company, valued at approximately $1,058,984.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,157 shares of company stock valued at $497,645. Insiders own 1.87% of the company’s stock.

A number of brokerages have commented on KRG. Citigroup decreased their target price on Kite Realty Group Trust from $20.50 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Capital One Financial upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating in a research note on Monday, February 5th. DA Davidson downgraded Kite Realty Group Trust from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, February 5th. Bank of America downgraded Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Finally, ValuEngine downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $20.33.

Kite Realty Group Trust (NYSE KRG) opened at $14.75 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $1,228.17, a P/E ratio of 7.20, a PEG ratio of 1.71 and a beta of 0.42. Kite Realty Group Trust has a 52-week low of $13.90 and a 52-week high of $24.00.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The business had revenue of $88.90 million during the quarter, compared to the consensus estimate of $89.14 million. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. research analysts anticipate that Kite Realty Group Trust will post 2.01 EPS for the current year.

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About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

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

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