Hillsdale Investment Management Inc. Buys New Position in Kite Realty Group Trust $KRG

Hillsdale Investment Management Inc. bought a new stake in Kite Realty Group Trust (NYSE:KRG) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 244,100 shares of the real estate investment trust’s stock, valued at approximately $5,529,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of KRG. Truist Financial Corp grew its holdings in shares of Kite Realty Group Trust by 5.3% in the second quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 503 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Kite Realty Group Trust by 0.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 131,664 shares of the real estate investment trust’s stock worth $2,981,000 after buying an additional 641 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in Kite Realty Group Trust by 3.1% in the 2nd quarter. Verdence Capital Advisors LLC now owns 22,302 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 661 shares during the period. Nissay Asset Management Corp Japan ADV grew its stake in shares of Kite Realty Group Trust by 2.4% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 32,956 shares of the real estate investment trust’s stock worth $737,000 after acquiring an additional 778 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Kite Realty Group Trust by 44.0% in the second quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 908 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the completion of the transaction, the chief executive officer owned 54,121 shares in the company, valued at approximately $1,228,546.70. This represents a 48.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

KRG has been the subject of a number of recent research reports. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. 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, LADENBURG THALM/SH SH started coverage on shares of 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. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.88.

Kite Realty Group Trust Trading Up 2.9%

NYSE:KRG opened at $22.84 on Friday. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24. The stock has a market cap of $4.94 billion, a P/E ratio of 35.68, a P/E/G ratio of 6.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a 50-day simple moving average of $22.27 and a 200-day simple moving average of $22.35.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results 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. The firm had revenue of $205.06 million during the quarter, compared to analysts’ expectations 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. As a group, analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

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

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.