Vestmark Advisory Solutions Inc. Trims Stock Position in Kite Realty Group Trust $KRG

Vestmark Advisory Solutions Inc. lowered its stake in Kite Realty Group Trust (NYSE:KRG) by 45.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,565 shares of the real estate investment trust’s stock after selling 18,091 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Kite Realty Group Trust were worth $488,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KRG. Centersquare Investment Management LLC lifted its stake in shares of Kite Realty Group Trust by 133.6% in the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after acquiring an additional 3,408,442 shares during the period. Nuveen LLC purchased a new position in Kite Realty Group Trust during the first quarter worth about $70,071,000. Long Pond Capital LP acquired a new stake in Kite Realty Group Trust in the first quarter valued at about $60,616,000. Alyeska Investment Group L.P. acquired a new stake in Kite Realty Group Trust in the first quarter valued at about $24,727,000. Finally, Strs Ohio purchased a new stake in Kite Realty Group Trust in the 1st quarter valued at approximately $20,517,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insiders Place Their Bets

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the business’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 transaction of $1,135,000.00. Following the completion of the sale, the chief executive officer directly owned 54,121 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Kite Realty Group Trust Trading Up 2.1%

Shares of KRG stock opened at $22.77 on Wednesday. The firm has a 50-day moving average price of $22.34 and a 200 day moving average price of $22.33. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 6.16 and a beta of 1.13. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.23%. The business had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be given a dividend of $0.29 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.16 dividend on an annualized basis and a yield of 5.1%. Kite Realty Group Trust’s dividend payout ratio is currently 181.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KRG. Piper Sandler reissued 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. Citigroup reissued a “neutral” rating and issued a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Finally, Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.22.

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.