M&T Bank Corp raised its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 52.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,597 shares of the real estate investment trust's stock after acquiring an additional 19,132 shares during the quarter. M&T Bank Corp's holdings in Kite Realty Group Trust were worth $1,244,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of KRG. Norges Bank acquired a new position in Kite Realty Group Trust in the fourth quarter valued at approximately $91,335,000. Centersquare Investment Management LLC acquired a new position in Kite Realty Group Trust in the fourth quarter valued at approximately $64,403,000. JPMorgan Chase & Co. lifted its holdings in Kite Realty Group Trust by 23.3% in the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after acquiring an additional 2,308,613 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Kite Realty Group Trust by 332.4% in the first 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 acquiring an additional 1,160,694 shares during the period. Finally, Invesco Ltd. lifted its holdings in Kite Realty Group Trust by 36.5% in the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock valued at $75,038,000 after acquiring an additional 794,651 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.
Kite Realty Group Trust Stock Up 0.1%
Shares of KRG opened at $22.51 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.07 and a current ratio of 1.07. Kite Realty Group Trust has a one year low of $18.52 and a one year high of $28.24. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 321.50, a PEG ratio of 5.74 and a beta of 1.09. The stock has a 50 day moving average price of $22.46 and a 200 day moving average price of $22.50.
Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. The firm had revenue of $221.76 million during the quarter, compared to analysts' expectations of $211.07 million. Equities research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.
Kite Realty Group Trust Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is 1,542.86%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on KRG. Wall Street Zen downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Raymond James Financial reduced their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company reduced their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, UBS Group started coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price for the company. Seven investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.22.
Read Our Latest Analysis on KRG
Kite Realty Group Trust Profile
(
Free Report)
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.
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