Kite Realty Group Trust $KRG Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in Kite Realty Group Trust (NYSE:KRG) by 9.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 493,591 shares of the real estate investment trust’s stock after purchasing an additional 43,135 shares during the quarter. California Public Employees Retirement System owned about 0.24% of Kite Realty Group Trust worth $12,118,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in KRG. Cohen & Steers Inc. raised its position in shares of Kite Realty Group Trust by 26.3% in the 4th quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock worth $630,805,000 after buying an additional 5,486,116 shares during the period. Centersquare Investment Management LLC boosted its holdings in Kite Realty Group Trust by 1.3% in the fourth quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust’s stock valued at $197,436,000 after acquiring an additional 105,830 shares during the last quarter. Bank of America Corp DE grew its position in Kite Realty Group Trust by 6.9% during the third quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust’s stock valued at $142,009,000 after acquiring an additional 411,465 shares during the period. Charles Schwab Investment Management Inc. grew its position in Kite Realty Group Trust by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,812,897 shares of the real estate investment trust’s stock valued at $91,395,000 after acquiring an additional 93,580 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Kite Realty Group Trust by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,275,968 shares of the real estate investment trust’s stock worth $73,052,000 after acquiring an additional 165,889 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KRG. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Jefferies Financial Group upgraded shares of Kite Realty Group Trust to a “hold” rating in a report on Friday, June 26th. Wells Fargo & Company set a $32.00 price target on shares of Kite Realty Group Trust and gave the company an “overweight” rating in a research report on Thursday. LADENBURG THALM/SH SH boosted their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Piper Sandler reissued a “neutral” rating and issued a $33.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.43.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $29.29 on Friday. Kite Realty Group Trust has a 12-month low of $20.86 and a 12-month high of $29.92. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 4.07 and a beta of 0.85. The business has a 50 day simple moving average of $28.22 and a 200 day simple moving average of $26.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 1.06.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $200.70 million for the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. On average, equities research analysts anticipate that Kite Realty Group Trust will post 2.1 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th were issued a $0.29 dividend. The ex-dividend date was Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.0%. Kite Realty Group Trust’s dividend payout ratio is presently 87.22%.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.