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

Vestmark Advisory Solutions Inc. reduced its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 45.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KRG. Cbre Investment Management Listed Real Assets LLC bought a new position in Kite Realty Group Trust during the 2nd quarter valued at $14,377,000. Connable Office Inc. acquired a new position in Kite Realty Group Trust in the second quarter worth about $221,000. Bank of New York Mellon Corp grew its stake in Kite Realty Group Trust by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 1,788,714 shares of the real estate investment trust’s stock worth $40,514,000 after purchasing an additional 105,937 shares in the last quarter. Bank of Montreal Can increased its holdings in Kite Realty Group Trust by 63.3% in the second quarter. Bank of Montreal Can now owns 104,450 shares of the real estate investment trust’s stock valued at $2,366,000 after buying an additional 40,485 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Kite Realty Group Trust during the second quarter valued at approximately $288,000. Institutional investors own 90.81% of the company’s stock.

Insider Activity

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 value of $1,135,000.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.50% of the company’s stock.

Kite Realty Group Trust Trading Up 2.1%

Shares of NYSE:KRG opened at $22.77 on Wednesday. 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 company’s 50-day moving average price is $22.34 and its 200 day moving average price is $22.33. The company has a market cap of $4.93 billion, a PE ratio of 35.58, a P/E/G ratio of 6.16 and a beta of 1.13. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24.

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

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 5.1%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 181.25%.

Analyst Ratings Changes

KRG has been the subject of a number of research reports. LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price objective for the company. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Citigroup reaffirmed a “neutral” rating and issued a $24.00 price target (down from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Raymond James Financial cut shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.22.

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.