State of New Jersey Common Pension Fund D Acquires 15,000 Shares of Kite Realty Group Trust (NYSE:KRG)

State of New Jersey Common Pension Fund D increased its stake in Kite Realty Group Trust (NYSE:KRG) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,110 shares of the real estate investment trust’s stock after purchasing an additional 15,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Kite Realty Group Trust worth $5,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Kite Realty Group Trust by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after buying an additional 881,502 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Kite Realty Group Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after acquiring an additional 190,380 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Kite Realty Group Trust by 17.7% in the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after acquiring an additional 386,566 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Kite Realty Group Trust by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after purchasing an additional 32,493 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Kite Realty Group Trust by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock worth $46,566,000 after purchasing an additional 295,708 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on KRG. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Piper Sandler lifted their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Robert W. Baird boosted their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Compass Point raised 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 report on Wednesday, September 4th. Finally, KeyCorp upped 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 report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average price target of $28.00.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $27.45 on Tuesday. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of -686.25, a PEG ratio of 4.19 and a beta of 1.29. The stock has a fifty day moving average of $26.18 and a 200 day moving average of $23.99. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $27.94. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.93%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -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.