M&T Bank Corp Increases Position in Kite Realty Group Trust (NYSE:KRG)

M&T Bank Corp boosted its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 52.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,597 shares of the real estate investment trust's stock after acquiring an additional 19,132 shares during the period. M&T Bank Corp's holdings in Kite Realty Group Trust were worth $1,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $91,335,000. Centersquare Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $64,403,000. JPMorgan Chase & Co. boosted its holdings in shares of Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after buying an additional 2,308,613 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Kite Realty Group Trust by 332.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock valued at $33,776,000 after buying an additional 1,160,694 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Kite Realty Group Trust by 36.5% in the 4th quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock valued at $75,038,000 after buying an additional 794,651 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

NYSE:KRG traded up $0.26 during trading hours on Thursday, reaching $22.61. 1,407,377 shares of the company's stock were exchanged, compared to its average volume of 1,719,207. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 323.01, a P/E/G ratio of 6.80 and a beta of 1.09. The company has a 50-day moving average of $22.47 and a 200 day moving average of $22.46. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.89. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a net margin of 1.59% and a return on equity of 0.41%. Research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.78%. Kite Realty Group Trust's payout ratio is currently 1,542.86%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KRG. UBS Group began coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price for the company. Raymond James Financial lowered their target price 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. Wells Fargo & Company lowered their target price 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. Finally, Wall Street Zen cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.22.

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.