Kite Realty Group Trust $KRG Shares Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Kite Realty Group Trust by 221.1% during Q2, now owning 32,484 shares valued at approximately $736,000.
• The average analyst rating for Kite Realty Group Trust is currently a "Hold" with a price target averaging $26.50, reflecting mixed sentiments on the stock's performance.
• Kite Realty Group Trust announced a quarterly dividend of $0.27 per share to be paid on October 16, 2023, which gives an annual yield of 5.0%.

Bayforest Capital Ltd lifted its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 221.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,484 shares of the real estate investment trust's stock after buying an additional 22,366 shares during the period. Bayforest Capital Ltd's holdings in Kite Realty Group Trust were worth $736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Kite Realty Group Trust during the 1st quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kite Realty Group Trust during the 1st quarter worth $25,000. Ameritas Advisory Services LLC acquired a new stake in shares of Kite Realty Group Trust during the 2nd quarter worth $30,000. UMB Bank n.a. increased its holdings in Kite Realty Group Trust by 103.0% in the 2nd quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 1,323 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Kite Realty Group Trust by 44.0% in the 2nd quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust's stock valued at $67,000 after purchasing an additional 908 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Kite Realty Group Trust Price Performance

KRG opened at $21.68 on Tuesday. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 5.91 and a beta of 1.15. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24. The company's 50-day moving average price is $22.16 and its 200 day moving average price is $22.14. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91.

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 the consensus estimate 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. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, October 9th. This represents a $1.08 annualized dividend and a yield of 5.0%. Kite Realty Group Trust's dividend payout ratio is 136.71%.

Insider Buying and Selling at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust stock in a transaction that occurred on Wednesday, September 3rd. The stock was 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 of the company's stock, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% 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.

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