Police & Firemen s Retirement System of New Jersey Boosts Position in Kite Realty Group Trust $KRG

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,631 shares of the real estate investment trust’s stock after buying an additional 3,347 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Kite Realty Group Trust were worth $1,124,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its stake in Kite Realty Group Trust by 516.1% in the first quarter. Allianz Asset Management GmbH now owns 623,772 shares of the real estate investment trust’s stock valued at $13,954,000 after buying an additional 522,529 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Kite Realty Group Trust by 3.0% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 249,210 shares of the real estate investment trust’s stock worth $5,575,000 after acquiring an additional 7,310 shares during the period. KLP Kapitalforvaltning AS increased its holdings in shares of Kite Realty Group Trust by 7.0% in the first quarter. KLP Kapitalforvaltning AS now owns 56,495 shares of the real estate investment trust’s stock valued at $1,264,000 after purchasing an additional 3,700 shares during the period. Cetera Investment Advisers grew its position in Kite Realty Group Trust by 129.2% in the 1st quarter. Cetera Investment Advisers now owns 44,414 shares of the real estate investment trust’s stock valued at $994,000 after buying an additional 25,040 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Kite Realty Group Trust in the 1st quarter worth $1,174,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.84 on Friday. The stock has a fifty day moving average price of $22.27 and a 200 day moving average price of $22.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market cap of $4.94 billion, a PE ratio of 35.68, a P/E/G ratio of 6.16 and a beta of 1.13. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust had a return on equity of 4.23% and a net margin of 16.34%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Sell-side analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be issued a dividend of $0.29 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. This represents a $1.16 annualized dividend and a yield of 5.1%. Kite Realty Group Trust’s payout ratio is 181.25%.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the sale, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This represents a 48.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KRG. Citigroup reiterated a “neutral” rating and set a $24.00 price target (down from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Wednesday. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Finally, LADENBURG THALM/SH SH started coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 target price for the company. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.88.

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.