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

Mackenzie Financial Corp increased its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 2,830.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 0.23% of Kite Realty Group Trust worth $12,775,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in KRG. Optiver Holding B.V. increased its holdings in Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 467 shares during the last quarter. FIL Ltd lifted its position in Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 579 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new stake in Kite Realty Group Trust during the fourth quarter valued at about $101,000. GF Fund Management CO. LTD. purchased a new stake in Kite Realty Group Trust in the fourth quarter worth about $101,000. Finally, Headlands Technologies LLC bought a new position in shares of Kite Realty Group Trust in the fourth quarter worth about $116,000. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

NYSE KRG traded down $0.18 during trading on Friday, hitting $22.12. 1,621,743 shares of the stock traded hands, compared to its average volume of 1,688,367. 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 has a 12-month low of $18.52 and a 12-month high of $28.24. The firm has a 50-day simple moving average of $21.77 and a 200-day simple moving average of $23.36. The company has a market capitalization of $4.86 billion, a P/E ratio of 1,106.00, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $221.76 million for the quarter, compared to analysts' expectations of $211.07 million. As a group, analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

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 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 is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio is 1,542.86%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company lowered their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, Raymond James reduced their price objective on shares of 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. Five investment 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. Based on data from MarketBeat, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and an average target price of $27.63.

Kite Realty Group Trust 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.