Verdence Capital Advisors LLC Boosts Stock Holdings in Kite Realty Group Trust $KRG

Verdence Capital Advisors LLC grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,302 shares of the real estate investment trust’s stock after acquiring 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new position in Kite Realty Group Trust during the 1st quarter worth $25,000. Ameritas Advisory Services LLC purchased a new position in Kite Realty Group Trust during the 2nd quarter worth $30,000. UMB Bank n.a. boosted its holdings in Kite Realty Group Trust by 103.0% during the 2nd quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,323 shares during the last quarter. Blue Trust Inc. boosted its holdings in Kite Realty Group Trust by 44.0% during the 2nd 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 during the last quarter. Finally, Dagco Inc. purchased a new position in Kite Realty Group Trust during the 1st quarter worth $92,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This represents a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KRG shares. 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 price target on the stock. UBS Group started coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target on the stock. 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 price target (down from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Kite Realty Group Trust in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average target price of $26.50.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $22.17 on Thursday. The company has a market cap 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. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24. 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 firm’s 50-day simple moving average is $22.17 and its two-hundred day simple moving average is $22.13.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $211.18 million for the quarter, compared to the consensus estimate 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. Research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

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

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.