OmniStar Financial Group Inc. Sells 6,024 Shares of Kite Realty Group Trust $KRG

OmniStar Financial Group Inc. lowered its position in Kite Realty Group Trust (NYSE:KRG) by 23.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,094 shares of the real estate investment trust’s stock after selling 6,024 shares during the quarter. OmniStar Financial Group Inc.’s holdings in Kite Realty Group Trust were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Centersquare Investment Management LLC raised its position in shares of Kite Realty Group Trust by 133.6% during the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after acquiring an additional 3,408,442 shares during the last quarter. Geode Capital Management LLC raised its stake in Kite Realty Group Trust by 0.7% during the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock worth $133,183,000 after buying an additional 40,017 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Kite Realty Group Trust by 8.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust’s stock valued at $130,615,000 after buying an additional 459,752 shares during the period. Nuveen LLC bought a new stake in Kite Realty Group Trust during the first quarter valued at $70,071,000. Finally, Long Pond Capital LP acquired a new stake in Kite Realty Group Trust during the 1st quarter worth about $60,616,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $22.48 on Friday. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The business’s fifty day moving average is $22.31 and its 200 day moving average is $22.34. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 6.16 and a beta of 1.13.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $205.06 million during the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.23%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 9th will be given a dividend of $0.29 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. Kite Realty Group Trust’s dividend payout ratio is 181.25%.

Insider Activity

In related news, CEO John A. Kite sold 50,000 shares of the company’s 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 transaction, the chief executive officer directly owned 54,121 shares in the company, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup reaffirmed a “neutral” rating and set a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Thursday. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. LADENBURG THALM/SH SH initiated coverage on Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Hold” and a consensus price target of $25.88.

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.