46,084 Shares in Kite Realty Group Trust $KRG Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP acquired a new position in Kite Realty Group Trust by purchasing 46,084 shares valued at approximately $1,031,000 in Q1 2023.
• In related news, CEO John A. Kite sold 50,000 shares, reducing his ownership by 48.02% and retaining 54,121 shares, valued at about $1.23 million.
• Kite Realty Group Trust recently announced a quarterly dividend of $0.27, with an annual yield of 4.8%, and a payout ratio of 136.71%.

Caxton Associates LLP bought a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 46,084 shares of the real estate investment trust's stock, valued at approximately $1,031,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in Kite Realty Group Trust by 9.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,210,594 shares of the real estate investment trust's stock valued at $30,555,000 after buying an additional 102,665 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Kite Realty Group Trust by 45.0% in the 4th quarter. BNP Paribas Financial Markets now owns 77,983 shares of the real estate investment trust's stock valued at $1,968,000 after acquiring an additional 24,201 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Kite Realty Group Trust by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 18,214 shares of the real estate investment trust's stock valued at $460,000 after acquiring an additional 613 shares in the last quarter. Cetera Investment Advisers grew its holdings in Kite Realty Group Trust by 27.9% in the 4th quarter. Cetera Investment Advisers now owns 19,374 shares of the real estate investment trust's stock valued at $489,000 after buying an additional 4,227 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in Kite Realty Group Trust in the 4th quarter valued at approximately $246,000. Institutional investors own 90.81% of the company's stock.

Analysts Set New Price Targets

KRG has been the topic of several recent research reports. LADENBURG THALM/SH SH assumed coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They set a "buy" rating and a $30.00 price objective on the stock. UBS Group started coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price for the company. Wells Fargo & Company reduced their price objective on Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Piper Sandler reiterated a "neutral" rating and set a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Finally, Wall Street Zen lowered Kite Realty Group Trust from a "hold" rating to a "sell" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $26.50.

Kite Realty Group Trust Stock Down 0.8%

Shares of KRG traded down $0.18 during mid-day trading on Tuesday, hitting $22.28. The company's stock had a trading volume of 215,700 shares, compared to its average volume of 1,860,990. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The company's 50-day moving average is $22.32 and its 200-day moving average is $22.17. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 6.24 and a beta of 1.13.

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

Kite Realty Group Trust Dividend Announcement

The firm 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 $0.27 dividend. The ex-dividend date is Thursday, October 9th. This represents a $1.08 annualized dividend and a yield of 4.8%. Kite Realty Group Trust's dividend payout ratio is 136.71%.

Insider Transactions at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 54,121 shares of the company's stock, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.50% of the company's stock.

Kite Realty Group Trust Company Profile

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.