Wealth Enhancement Advisory Services LLC Acquires 40,722 Shares of Kite Realty Group Trust $KRG

Key Points

• Wealth Enhancement Advisory Services LLC acquired an additional 40,722 shares of Kite Realty Group Trust, boosting its ownership by 160.9% in the second quarter, rising to a total of 66,025 shares valued at approximately $1.52 million.
• CEO John A. Kite sold 50,000 shares of the company at an average price of $22.70, significantly reducing his position by 48.02%.
• Analysts have mixed views on Kite Realty Group Trust, with one "Strong Buy," two "Buy," and seven "Hold" ratings, leading to an average rating of "Hold" and a consensus price target of $26.50.

Wealth Enhancement Advisory Services LLC increased its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 160.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,025 shares of the real estate investment trust's stock after purchasing an additional 40,722 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Kite Realty Group Trust were worth $1,523,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Kite Realty Group Trust by 1,523.9% during the first quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust's stock valued at $1,739,000 after acquiring an additional 72,949 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Kite Realty Group Trust by 27.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 59,489 shares of the real estate investment trust's stock valued at $1,331,000 after acquiring an additional 12,696 shares during the last quarter. SG Americas Securities LLC bought a new stake in Kite Realty Group Trust during the first quarter valued at $795,000. CX Institutional bought a new stake in Kite Realty Group Trust during the first quarter valued at $79,000. Finally, Howard Capital Management Group LLC boosted its position in Kite Realty Group Trust by 21.1% during the first quarter. Howard Capital Management Group LLC now owns 40,185 shares of the real estate investment trust's stock valued at $899,000 after acquiring an additional 7,009 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

Insider Buying and Selling

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the stock in a transaction dated 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 owned 54,121 shares in the company, valued at approximately $1,228,546.70. This trade represents a 48.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a "buy" rating and a $30.00 price target on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Citigroup reissued a "neutral" rating and set a $24.00 price objective (down previously from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. UBS Group assumed coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price objective on the stock. Finally, Wall Street Zen raised shares of Kite Realty Group Trust from a "sell" rating to a "hold" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.50.

Kite Realty Group Trust Trading Down 0.6%

KRG opened at $22.01 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market capitalization of $4.84 billion, a PE ratio of 27.86, a P/E/G ratio of 6.14 and a beta of 1.13. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24. The company's 50-day moving average is $22.26 and its 200 day moving average is $22.16.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted 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 firm had revenue of $211.18 million during the quarter, compared to analyst estimates 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. As a group, research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders 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 annualized dividend and a yield of 4.9%. Kite Realty Group Trust's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.