M&T Bank Corp Acquires 957,366 Shares of Kite Realty Group Trust $KRG

Key Points

• M&T Bank Corp boosted its stake in Kite Realty by 6,888% in Q4, purchasing an additional 957,366 shares to hold 971,265 shares (about 0.45% of the company) worth roughly $23.28 million.
• Kite Realty pays a quarterly dividend of $0.29 (annualized $1.16) for a yield of 4.5%, with a payout ratio of 84.06%.
• The stock trades in a one-year range of $20.86–$26.82, has a market cap of $5.28 billion and a P/E of 18.86, and carries an analyst consensus of Hold with an average price target of $26.38.

M&T Bank Corp lifted its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 6,888.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 971,265 shares of the real estate investment trust's stock after purchasing an additional 957,366 shares during the period. M&T Bank Corp owned 0.45% of Kite Realty Group Trust worth $23,281,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Kite Realty Group Trust by 32.2% in the first quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust's stock worth $1,797,000 after buying an additional 19,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Kite Realty Group Trust by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust's stock valued at $2,893,000 after acquiring an additional 5,666 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 740 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Kite Realty Group Trust by 14.5% in the 2nd quarter. California Public Employees Retirement System now owns 385,476 shares of the real estate investment trust's stock valued at $8,731,000 after acquiring an additional 48,935 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Kite Realty Group Trust by 3.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 77,577 shares of the real estate investment trust's stock worth $1,757,000 after purchasing an additional 2,386 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $26.03 on Friday. Kite Realty Group Trust has a one year low of $20.86 and a one year high of $26.82. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $25.42 and a 200 day simple moving average of $23.90. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 4.64 and a beta of 0.88.

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.5%. Kite Realty Group Trust's payout ratio is presently 84.06%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Citigroup reiterated a "neutral" rating and set a $27.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Weiss Ratings upgraded shares of Kite Realty Group Trust from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded shares of Kite Realty Group Trust from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. UBS Group restated a "neutral" rating and set a $25.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Finally, Wells Fargo & Company raised their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $26.38.

Kite Realty Group Trust Profile

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.

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