XTX Topco Ltd Makes New Investment in Kite Realty Group Trust (NYSE:KRG)

Key Points

• XTX Topco Ltd has invested approximately $1.17 million in Kite Realty Group Trust (NYSE:KRG) by acquiring 52,487 shares in the first quarter.
• Kite Realty Group Trust announced a quarterly dividend of $0.27, resulting in an annualized yield of 5.0%, with the ex-dividend date set for October 9th.
• The company's stock has traded at a 52-week range between $18.51 and $28.24, currently at $21.63, with a market cap of $4.75 billion.

XTX Topco Ltd bought a new position in Kite Realty Group Trust (NYSE:KRG - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 52,487 shares of the real estate investment trust's stock, valued at approximately $1,174,000.

Other large investors have also bought and sold shares of the company. Centersquare Investment Management LLC purchased a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at $64,403,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Kite Realty Group Trust by 332.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock worth $33,776,000 after acquiring an additional 1,160,694 shares during the last quarter. Invesco Ltd. increased its holdings in Kite Realty Group Trust by 36.5% in the 4th quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock worth $75,038,000 after acquiring an additional 794,651 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Kite Realty Group Trust in the 4th quarter worth about $19,632,000. Finally, Deutsche Bank AG increased its holdings in Kite Realty Group Trust by 232.4% in the 4th quarter. Deutsche Bank AG now owns 1,048,441 shares of the real estate investment trust's stock worth $26,463,000 after acquiring an additional 733,015 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG traded down $0.02 during trading on Tuesday, reaching $21.79. 705,544 shares of the company traded hands, compared to its average volume of 1,895,963. The stock has a market capitalization of $4.79 billion, a PE ratio of 27.57, a P/E/G ratio of 6.57 and a beta of 1.16. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. The firm has a 50 day simple moving average of $22.49 and a 200-day simple moving average of $22.35. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24.

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, meeting the consensus estimate of $0.51. The company had revenue of $211.18 million for the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Equities research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a yield of 5.0%. Kite Realty Group Trust's payout ratio is presently 136.71%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group started coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price objective for the company. Piper Sandler lowered their price objective on Kite Realty Group Trust from $25.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday. Raymond James Financial reduced their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 23rd. Finally, Wall Street Zen downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $27.11.

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.