Alyeska Investment Group L.P. Acquires New Holdings in Kite Realty Group Trust $KRG

Key Points

• Alyeska Investment Group L.P. recently acquired 1,105,361 shares of Kite Realty Group Trust, valued at approximately $24.7 million, representing a 0.50% stake in the company.
• The real estate investment trust reported $0.51 EPS for the last quarter, matching analysts' expectations, while its revenue was slightly below forecasts at $211.18 million.
• Kite Realty Group Trust has announced a quarterly dividend of $0.27 per share, reflecting an annualized yield of 4.7% and a high dividend payout ratio of 136.71%.

Alyeska Investment Group L.P. purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,105,361 shares of the real estate investment trust's stock, valued at approximately $24,727,000. Alyeska Investment Group L.P. owned approximately 0.50% of Kite Realty Group Trust as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Kite Realty Group Trust in the 1st quarter valued at $25,000. Smallwood Wealth Investment Management LLC bought a new stake in Kite Realty Group Trust in the 1st quarter valued at $25,000. CX Institutional bought a new stake in Kite Realty Group Trust in the 1st quarter valued at $79,000. Dagco Inc. bought a new stake in Kite Realty Group Trust during the 1st quarter worth about $92,000. Finally, GF Fund Management CO. LTD. bought a new stake in Kite Realty Group Trust during the 4th quarter worth about $101,000. 90.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on KRG. Raymond James Financial cut their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 23rd. LADENBURG THALM/SH SH assumed coverage on shares of Kite Realty Group Trust in a research report on Tuesday. They set a "buy" rating and a $30.00 price target on the stock. Wall Street Zen lowered shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. UBS Group assumed coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price objective on the stock. Finally, Piper Sandler restated a "neutral" rating and set a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. One investment 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $26.78.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG traded up $0.11 on Wednesday, reaching $22.85. 533,313 shares of the company's stock were exchanged, compared to its average volume of 1,861,794. The company has a fifty day moving average of $22.35 and a 200-day moving average of $22.17. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 6.32 and a beta of 1.13. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The firm had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, October 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.7%. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 136.71%.

Insider Activity

In related news, CEO John A. Kite sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the sale, the chief executive officer owned 54,121 shares in the company, valued at approximately $1,228,546.70. This trade represents a 48.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company's stock.

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.