Verdence Capital Advisors LLC Purchases 661 Shares of Kite Realty Group Trust $KRG

Verdence Capital Advisors LLC grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,302 shares of the real estate investment trust’s stock after purchasing an additional 661 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Kite Realty Group Trust were worth $505,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Centersquare Investment Management LLC raised its holdings in Kite Realty Group Trust by 133.6% during 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 purchasing an additional 3,408,442 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Kite Realty Group Trust by 8.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust’s stock worth $130,615,000 after purchasing an additional 459,752 shares during the last quarter. Nuveen LLC bought a new position in Kite Realty Group Trust during the 1st quarter worth approximately $70,071,000. Long Pond Capital LP bought a new position in Kite Realty Group Trust during the 1st quarter worth approximately $60,616,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Kite Realty Group Trust by 332.4% during 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 purchasing an additional 1,160,694 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.17 on Thursday. The firm has a market capitalization of $4.87 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 6.04 and a beta of 1.15. The firm has a fifty day simple moving average of $22.17 and a two-hundred day simple moving average of $22.13. 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 has a 12 month low of $18.51 and a 12 month high of $28.24.

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, meeting analysts’ consensus estimates of $0.51. The business had revenue of $211.18 million during 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. Analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust’s payout ratio is 136.71%.

Analysts Set New Price Targets

Several research firms have recently weighed in on KRG. UBS Group began coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price objective for the company. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Sunday. Wells Fargo & Company lowered their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. LADENBURG THALM/SH SH began coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Citigroup reiterated a “neutral” rating and issued a $24.00 price objective (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Insider Buying and Selling

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the business’s stock in a transaction 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 owned 54,121 shares in the company, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

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.