Kite Realty Group Trust $KRG Stock Position Cut by Deutsche Bank AG

Key Points

• Deutsche Bank AG has decreased its stake in Kite Realty Group Trust by 66.4%, selling 696,447 shares and leaving it with 351,994 shares worth approximately $7.87 million.
• Kite Realty Group Trust has announced a $0.27 dividend to be paid on October 16, representing an annualized dividend of $1.08 and a yield of 5.0%.
• Analysts have mixed ratings on Kite Realty Group Trust, with seven holds, two buys, and one strong buy, and a consensus target price of $27.11.

Deutsche Bank AG trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 66.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 351,994 shares of the real estate investment trust's stock after selling 696,447 shares during the period. Deutsche Bank AG owned 0.16% of Kite Realty Group Trust worth $7,874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Centersquare Investment Management LLC raised its holdings in shares of Kite Realty Group Trust by 133.6% during the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock worth $133,327,000 after purchasing an additional 3,408,442 shares during the period. LSV Asset Management raised its holdings in shares of Kite Realty Group Trust by 2.1% during the first quarter. LSV Asset Management now owns 997,600 shares of the real estate investment trust's stock worth $22,316,000 after purchasing an additional 20,100 shares during the period. Bayforest Capital Ltd raised its holdings in shares of Kite Realty Group Trust by 275.9% during the first quarter. Bayforest Capital Ltd now owns 10,118 shares of the real estate investment trust's stock worth $226,000 after purchasing an additional 7,426 shares during the period. XTX Topco Ltd acquired a new stake in shares of Kite Realty Group Trust during the first quarter worth $1,174,000. Finally, Cetera Investment Advisers raised its holdings in shares of Kite Realty Group Trust by 129.2% during the first quarter. Cetera Investment Advisers now owns 44,414 shares of the real estate investment trust's stock worth $994,000 after purchasing an additional 25,040 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on KRG shares. Wall Street Zen cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Raymond James Financial dropped their target price 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. Piper Sandler reissued a "neutral" rating and set a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Finally, UBS Group started coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price objective on the stock. One research 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $27.11.

Kite Realty Group Trust Stock Performance

Shares of KRG stock traded down $0.1350 during trading hours on Wednesday, reaching $22.0250. The stock had a trading volume of 2,516,109 shares, compared to its average volume of 1,713,310. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24. The firm has a 50-day simple moving average of $22.33 and a 200-day simple moving average of $22.19. The firm has a market capitalization of $4.84 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 6.13 and a beta of 1.16.

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. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The business 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. As a group, equities analysts forecast 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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio is currently 136.71%.

Kite Realty Group Trust 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.