Hsbc Holdings PLC Has $10.49 Million Stock Holdings in Kite Realty Group Trust $KRG

Key Points

• HSBC Holdings PLC cut its stake in Kite Realty Group Trust by 32.8% in the first quarter, leaving it with 426,954 shares valued at about $10.49 million.
• Kite Realty Group Trust reported Q1 earnings of $0.06 per share, missing estimates by $0.01, though revenue of $200.7 million came in slightly above expectations.
• The REIT pays a quarterly dividend of $0.29 per share, equal to an annualized yield of about 4.0%; analysts currently have a consensus rating of Hold with a $29.00 price target.

Hsbc Holdings PLC decreased its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 426,954 shares of the real estate investment trust's stock after selling 208,214 shares during the quarter. Hsbc Holdings PLC owned 0.21% of Kite Realty Group Trust worth $10,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in Kite Realty Group Trust in the fourth quarter valued at about $25,000. Arax Advisory Partners increased its holdings in shares of Kite Realty Group Trust by 182.0% during the fourth quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust's stock worth $27,000 after buying an additional 726 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Kite Realty Group Trust by 118.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 740 shares during the last quarter. Danske Bank A S bought a new position in shares of Kite Realty Group Trust in the third quarter valued at approximately $49,000. Finally, First Horizon Corp boosted its holdings in shares of Kite Realty Group Trust by 56.5% in the 4th quarter. First Horizon Corp now owns 2,100 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 758 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

KRG opened at $29.33 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $5.96 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 4.20 and a beta of 0.85. The company's 50 day simple moving average is $28.10 and its 200-day simple moving average is $26.10. Kite Realty Group Trust has a one year low of $20.86 and a one year high of $29.92.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.The company had revenue of $200.70 million during the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Sell-side analysts anticipate that Kite Realty Group Trust will post 2.1 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.0%. Kite Realty Group Trust's payout ratio is presently 87.22%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. LADENBURG THALM/SH SH increased their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Kite Realty Group Trust in a research note on Wednesday, July 15th. UBS Group restated a "neutral" rating and set a $30.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a report on Thursday, July 9th. Wells Fargo & Company restated an "overweight" rating and issued a $29.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a research note on Tuesday, May 26th. Finally, Wall Street Zen cut Kite Realty Group Trust from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $29.00.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.

Want to see what other hedge funds are holding KRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Realty Group Trust (NYSE:KRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.