Caxton Associates LLP purchased a new stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 46,084 shares of the real estate investment trust's stock, valued at approximately $1,031,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Louisiana State Employees Retirement System increased its position in shares of Kite Realty Group Trust by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust's stock valued at $1,376,000 after buying an additional 500 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in Kite Realty Group Trust by 1.8% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock worth $806,000 after purchasing an additional 556 shares during the period. State of Michigan Retirement System grew its holdings in Kite Realty Group Trust by 1.2% in the first quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust's stock worth $1,177,000 after purchasing an additional 600 shares during the period. Captrust Financial Advisors grew its holdings in Kite Realty Group Trust by 3.5% in the fourth quarter. Captrust Financial Advisors now owns 18,214 shares of the real estate investment trust's stock worth $460,000 after purchasing an additional 613 shares during the period. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Kite Realty Group Trust in the first quarter worth about $25,000. Hedge funds and other institutional investors own 90.81% of the company's stock.
Insider Transactions at Kite Realty Group Trust
In related news, CEO John A. Kite sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.
Kite Realty Group Trust Price Performance
Shares of NYSE:KRG opened at $22.62 on Thursday. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24. The business has a 50-day simple moving average of $22.34 and a two-hundred day simple moving average of $22.17. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 6.30 and a beta of 1.13.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The company had revenue of $211.18 million for the quarter, compared to analysts' expectations of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.
Kite Realty Group Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be issued 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 (DPR) is currently 136.71%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on KRG. Raymond James Financial cut their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company cut their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Wall Street Zen cut shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Piper Sandler restated a "neutral" rating and issued a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Finally, LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a report on Tuesday. They set a "buy" rating and a $30.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.78.
Check Out Our Latest Stock Analysis on Kite Realty Group Trust
About Kite Realty Group Trust
(
Free Report)
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.
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