Central Pacific Bank Trust Division Has $60,000 Holdings in Kite Realty Group Trust $KRG

Central Pacific Bank Trust Division lessened its position in Kite Realty Group Trust (NYSE:KRG) by 54.3% in the second quarter, HoldingsChannel reports. The fund owned 2,663 shares of the real estate investment trust’s stock after selling 3,169 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Kite Realty Group Trust were worth $60,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KRG. Opal Wealth Advisors LLC acquired a new stake in Kite Realty Group Trust in the first quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC acquired a new stake in Kite Realty Group Trust in the first quarter valued at approximately $25,000. CX Institutional acquired a new stake in Kite Realty Group Trust in the first quarter valued at approximately $79,000. Dagco Inc. acquired a new stake in Kite Realty Group Trust in the first quarter valued at approximately $92,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Kite Realty Group Trust in the fourth quarter valued at approximately $101,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on KRG. Piper Sandler reissued a “neutral” rating and issued a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Citigroup restated 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. LADENBURG THALM/SH SH initiated coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, UBS Group initiated coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.50.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $22.56 on Monday. The business’s fifty day simple moving average is $22.33 and its 200 day simple moving average is $22.18. The firm has a market capitalization of $4.96 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 6.24 and a beta of 1.13. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. 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 issued 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 business had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 136.71%.

Insider Buying and Selling

In related news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust stock in a transaction 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 directly owned 54,121 shares in the company, valued at approximately $1,228,546.70. This trade represents a 48.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.