Hsbc Holdings PLC Sells 121,610 Shares of Kite Realty Group Trust $KRG

Key Points

• Hsbc Holdings PLC has reduced its stake in Kite Realty Group Trust by 29.7%, leaving it with 288,038 shares valued at approximately $6.4 million.
• The company announced a quarterly dividend of $0.27 per share, with an annual yield of 4.8%, set to be paid on October 16th to investors of record on October 9th.
• Kite Realty Group Trust's stock recently decreased by 1.7% and has a market cap of $4.92 billion, with an earnings per share estimate for FY 2025 set between 2.060 and 2.100.

Hsbc Holdings PLC lessened its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 29.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 288,038 shares of the real estate investment trust's stock after selling 121,610 shares during the period. Hsbc Holdings PLC owned approximately 0.13% of Kite Realty Group Trust worth $6,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Kite Realty Group Trust during the first quarter valued at about $25,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Kite Realty Group Trust in the 1st quarter worth approximately $25,000. Optiver Holding B.V. increased its position in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after buying an additional 467 shares in the last quarter. CX Institutional purchased a new position in shares of Kite Realty Group Trust in the first quarter valued at about $79,000. Finally, Dagco Inc. purchased a new position in Kite Realty Group Trust during the 1st quarter valued at approximately $92,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Up 1.0%

Shares of KRG traded up $0.22 during mid-day trading on Friday, reaching $22.81. 1,980,958 shares of the stock traded hands, compared to its average volume of 1,653,730. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The stock has a fifty day simple moving average of $22.34 and a 200 day simple moving average of $22.14. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 6.32 and a beta of 1.13.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting the consensus estimate 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 analyst estimates of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm 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 is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.7%. Kite Realty Group Trust's dividend payout ratio is currently 136.71%.

Analyst Ratings Changes

Several equities analysts have commented on KRG shares. Wall Street Zen downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Piper Sandler reissued a "neutral" rating and issued a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Raymond James Financial decreased their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company cut their target price 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. Finally, UBS Group began coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.00.

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.