Mackenzie Financial Corp Boosts Stock Holdings in Kite Realty Group Trust (NYSE:KRG)

Mackenzie Financial Corp grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 2,830.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 506,122 shares of the real estate investment trust’s stock after purchasing an additional 488,850 shares during the quarter. Mackenzie Financial Corp owned approximately 0.23% of Kite Realty Group Trust worth $12,775,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KRG. Barclays PLC increased its holdings in shares of Kite Realty Group Trust by 29.0% during the 3rd quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust’s stock valued at $25,139,000 after purchasing an additional 212,983 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Kite Realty Group Trust by 2.6% during the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock valued at $465,000 after purchasing an additional 466 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Kite Realty Group Trust by 34.6% during the 4th quarter. Blue Trust Inc. now owns 8,927 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 2,294 shares in the last quarter. KBC Group NV increased its holdings in shares of Kite Realty Group Trust by 38.4% during the 4th quarter. KBC Group NV now owns 8,210 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 2,277 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Kite Realty Group Trust by 3.5% during the 4th quarter. Pacer Advisors Inc. now owns 43,695 shares of the real estate investment trust’s stock valued at $1,103,000 after purchasing an additional 1,461 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price (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 $28.00 to $26.00 and set a “strong-buy” rating for the company in a report on Friday, May 23rd. Finally, Wells Fargo & Company cut their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and an average price target of $27.63.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock opened at $21.96 on Wednesday. Kite Realty Group Trust has a 52-week low of $18.52 and a 52-week high of $28.24. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 1,098.15, a PEG ratio of 3.57 and a beta of 1.10. The company has a fifty day simple moving average of $21.79 and a 200-day simple moving average of $23.47. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. The business had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. On average, equities analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust’s payout ratio is 1,542.86%.

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.