Bayforest Capital Ltd Buys 7,426 Shares of Kite Realty Group Trust (NYSE:KRG)

Bayforest Capital Ltd grew its position in Kite Realty Group Trust (NYSE:KRG) by 275.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,118 shares of the real estate investment trust’s stock after purchasing an additional 7,426 shares during the quarter. Bayforest Capital Ltd’s holdings in Kite Realty Group Trust were worth $226,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KRG. Smallwood Wealth Investment Management LLC acquired a new position in shares of Kite Realty Group Trust during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kite Realty Group Trust in the first quarter worth $25,000. Optiver Holding B.V. increased its position in Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 467 shares during the period. FIL Ltd raised its stake in Kite Realty Group Trust by 19.8% during the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 579 shares during the last quarter. Finally, CX Institutional acquired a new position in Kite Realty Group Trust during the 1st quarter valued at $79,000. Institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on KRG shares. Raymond James Financial decreased their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 23rd. UBS Group assumed coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 target price on the stock. Finally, Wall Street Zen lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average target price of $27.22.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $21.63 on Friday. The firm has a market cap of $4.75 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 6.67 and a beta of 1.16. The firm’s 50-day simple moving average is $22.49 and its 200-day simple moving average is $22.35. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.07 and a current ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The firm had revenue of $211.18 million during the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. As a group, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders 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 5.0%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust’s dividend payout ratio is 136.71%.

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.