California State Teachers Retirement System Raises Stake in Kite Realty Group Trust $KRG

California State Teachers Retirement System lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 26.0% during the first quarter, HoldingsChannel.com reports. The firm owned 263,946 shares of the real estate investment trust’s stock after purchasing an additional 54,425 shares during the period. California State Teachers Retirement System’s holdings in Kite Realty Group Trust were worth $6,480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quantinno Capital Management LP increased its holdings in shares of Kite Realty Group Trust by 12.4% in the 1st quarter. Quantinno Capital Management LP now owns 77,778 shares of the real estate investment trust’s stock valued at $1,909,000 after purchasing an additional 8,557 shares in the last quarter. SummitTX Capital L.P. boosted its holdings in Kite Realty Group Trust by 45.4% during the first quarter. SummitTX Capital L.P. now owns 355,188 shares of the real estate investment trust’s stock worth $8,720,000 after buying an additional 110,852 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Kite Realty Group Trust by 12.9% during the first quarter. Lazard Asset Management LLC now owns 61,177 shares of the real estate investment trust’s stock worth $1,502,000 after buying an additional 6,987 shares in the last quarter. Entropy Technologies LP acquired a new position in Kite Realty Group Trust during the first quarter worth about $392,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Kite Realty Group Trust by 499.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,251,733 shares of the real estate investment trust’s stock worth $30,730,000 after buying an additional 1,043,075 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KRG shares. Wall Street Zen raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup restated a “neutral” rating and issued a $31.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a report on Monday. LADENBURG THALM/SH SH raised their price objective on Kite Realty Group Trust from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Jefferies Financial Group raised Kite Realty Group Trust to a “hold” rating in a report on Friday, June 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $33.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average price target of $30.14.

Kite Realty Group Trust Trading Down 0.5%

Shares of Kite Realty Group Trust stock opened at $27.36 on Thursday. Kite Realty Group Trust has a 1 year low of $20.86 and a 1 year high of $29.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.61. The business has a 50 day moving average price of $28.48 and a 200 day moving average price of $26.44. The company has a market capitalization of $5.48 billion, a P/E ratio of 16.89, a P/E/G ratio of 4.06 and a beta of 0.86.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.68. Kite Realty Group Trust had a return on equity of 11.26% and a net margin of 41.80%.The company had revenue of $196.26 million during the quarter, compared to the consensus estimate of $197.32 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Sell-side analysts anticipate that Kite Realty Group Trust will post 2.1 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 9th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.16 annualized dividend and a yield of 4.2%. Kite Realty Group Trust’s payout ratio is presently 71.60%.

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.