Mackenzie Financial Corp Has $12.78 Million Stock Position in Kite Realty Group Trust (NYSE:KRG)

Mackenzie Financial Corp boosted its holdings in shares of 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 (SEC). The fund owned 506,122 shares of the real estate investment trust's stock after buying an additional 488,850 shares during the quarter. Mackenzie Financial Corp owned about 0.23% of Kite Realty Group Trust worth $12,775,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Optiver Holding B.V. lifted its stake 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 worth $71,000 after purchasing an additional 467 shares during the period. FIL Ltd lifted its stake 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 worth $88,000 after purchasing an additional 579 shares during the period. GF Fund Management CO. LTD. bought a new position in Kite Realty Group Trust during the fourth quarter worth about $101,000. Spectrum Wealth Counsel LLC bought a new position in Kite Realty Group Trust during the fourth quarter worth about $101,000. Finally, Headlands Technologies LLC bought a new position in Kite Realty Group Trust during the fourth quarter worth about $116,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 0.8%

KRG stock traded down $0.18 during trading on Friday, hitting $22.12. The company had a trading volume of 1,621,743 shares, 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. The firm has a 50-day moving average price of $21.77 and a 200-day moving average price of $23.33. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 1,106.00, a PEG ratio of 3.57 and a beta of 1.10.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $221.76 million during the quarter, compared to analysts' expectations of $211.07 million. As a group, analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders 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 yield of 4.88%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio is presently 1,542.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KRG. Piper Sandler restated a "neutral" rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Wells Fargo & Company cut 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 research note on Wednesday, March 26th. Finally, Raymond James cut 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 research note on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.