Edgestream Partners L.P. Trims Position in Kite Realty Group Trust $KRG

Edgestream Partners L.P. decreased its position in shares of Kite Realty Group Trust (NYSE:KRG) by 67.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,610 shares of the real estate investment trust’s stock after selling 121,510 shares during the quarter. Edgestream Partners L.P.’s holdings in Kite Realty Group Trust were worth $1,305,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new stake in Kite Realty Group Trust during the second quarter valued at about $30,000. UMB Bank n.a. grew its position in shares of Kite Realty Group Trust by 103.0% during the second quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,323 shares in the last quarter. Blue Trust Inc. raised its stake 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 valued at $67,000 after purchasing an additional 908 shares during the period. Dagco Inc. purchased a new position in Kite Realty Group Trust in the 1st quarter worth approximately $92,000. Finally, GAMMA Investing LLC boosted its stake in Kite Realty Group Trust by 30.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,520 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 1,045 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $22.63 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $27.04. The company’s 50-day moving average price is $22.41 and its 200-day moving average price is $22.36. The company has a market cap of $4.90 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 5.70 and a beta of 0.90.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a return on equity of 4.27% and a net margin of 16.34%.The company had revenue of $205.06 million during the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. On average, equities research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 5.1%. The ex-dividend date is Friday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s payout ratio is currently 168.75%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KRG. Wells Fargo & Company upgraded shares of 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 report on Tuesday, October 21st. Citigroup reiterated 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 downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday. Finally, LADENBURG THALM/SH SH assumed coverage on Kite Realty Group Trust in a research report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 target price on the stock. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Hold” and a consensus price target of $25.88.

About Kite Realty Group Trust

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.