Cibc World Markets Corp Acquires Shares of 20,323 Kite Realty Group Trust (NYSE:KRG)

Cibc World Markets Corp acquired a new stake in Kite Realty Group Trust (NYSE:KRG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,323 shares of the real estate investment trust’s stock, valued at approximately $513,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KRG. Wilmington Savings Fund Society FSB acquired a new position in shares of Kite Realty Group Trust in the third quarter valued at about $39,000. Versant Capital Management Inc grew its stake in shares of Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,080 shares in the last quarter. Spectrum Wealth Counsel LLC acquired a new position in shares of Kite Realty Group Trust in the fourth quarter valued at about $101,000. GAMMA Investing LLC grew its stake in shares of Kite Realty Group Trust by 15.8% in the fourth quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 652 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its stake in shares of Kite Realty Group Trust by 19.6% in the fourth quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 1,210 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Raymond James decreased their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Piper Sandler reiterated a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Stock Down 1.3 %

KRG stock opened at $22.12 on Friday. The stock has a market capitalization of $4.86 billion, a P/E ratio of 1,105.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The firm has a 50-day moving average price of $22.77 and a 200-day moving average price of $24.96.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. As a group, equities research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.88%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 5,400.00%.

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.