Geneos Wealth Management Inc. Sells 850 Shares of Kite Realty Group Trust $KRG

Geneos Wealth Management Inc. decreased its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 8.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,992 shares of the real estate investment trust’s stock after selling 850 shares during the period. Geneos Wealth Management Inc.’s holdings in Kite Realty Group Trust were worth $201,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Focus Partners Wealth boosted its stake in shares of Kite Realty Group Trust by 1.8% during the 1st quarter. Focus Partners Wealth now owns 179,956 shares of the real estate investment trust’s stock valued at $4,026,000 after purchasing an additional 3,212 shares in the last quarter. Bayforest Capital Ltd boosted its stake in Kite Realty Group Trust by 275.9% during the first quarter. Bayforest Capital Ltd now owns 10,118 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 7,426 shares in the last quarter. Zimmer Partners LP bought a new stake in Kite Realty Group Trust during the first quarter worth about $1,957,000. Caxton Associates LLP bought a new stake in Kite Realty Group Trust during the first quarter worth about $1,031,000. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Kite Realty Group Trust by 2.4% during 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. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 1.6%

Shares of KRG stock opened at $22.10 on Wednesday. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The stock has a market cap of $4.86 billion, a P/E ratio of 27.97, a P/E/G ratio of 6.22 and a beta of 1.13. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The company has a 50 day simple moving average of $22.32 and a two-hundred day simple moving average of $22.17.

Kite Realty Group Trust (NYSE:KRG) last announced its 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. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The business had revenue of $211.18 million during the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on KRG shares. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They set a “buy” rating and a $30.00 price objective on the stock. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. UBS Group started coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price objective on the stock. Finally, Raymond James Financial dropped their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.50.

Insider Activity

In other news, CEO John A. Kite sold 50,000 shares of the 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

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.