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

Cibc World Markets Corp bought a new position in Kite Realty Group Trust (NYSE:KRG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 20,323 shares of the real estate investment trust’s stock, valued at approximately $513,000.

Several other institutional investors have also recently made changes to their positions in KRG. Atria Investments Inc bought a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth $216,000. Natixis Advisors LLC boosted its holdings in shares of Kite Realty Group Trust by 14.3% in the 3rd quarter. Natixis Advisors LLC now owns 69,142 shares of the real estate investment trust’s stock worth $1,836,000 after buying an additional 8,645 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Kite Realty Group Trust by 53.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 190,265 shares of the real estate investment trust’s stock worth $5,053,000 after buying an additional 65,881 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Kite Realty Group Trust in the 3rd quarter worth about $631,000. Finally, Intech Investment Management LLC boosted its holdings in shares of Kite Realty Group Trust by 182.1% in the 3rd quarter. Intech Investment Management LLC now owns 65,861 shares of the real estate investment trust’s stock worth $1,749,000 after buying an additional 42,518 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James cut 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 report on Monday, March 10th. JPMorgan Chase & Co. cut their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company cut 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 report on Wednesday, January 29th. Finally, Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price target for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and a consensus target price of $28.13.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $22.12 on Friday. The company has a market cap of $4.86 billion, a PE ratio of 1,105.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The firm’s 50-day simple moving average is $22.77 and its two-hundred day simple moving average is $24.96.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. Research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business 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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

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.