Cibc World Markets Corp Takes $513,000 Position in Kite Realty Group Trust (NYSE:KRG)

Cibc World Markets Corp acquired a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,323 shares of the real estate investment trust's stock, valued at approximately $513,000.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Kite Realty Group Trust in the third quarter valued at approximately $39,000. Versant Capital Management Inc boosted its holdings in shares of Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 2,080 shares in the last quarter. Spectrum Wealth Counsel LLC purchased a new position in shares of Kite Realty Group Trust in the 4th quarter valued at $101,000. GAMMA Investing LLC boosted its position in shares of Kite Realty Group Trust by 15.8% in the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 652 shares during the period. Finally, Central Pacific Bank Trust Division raised its position in Kite Realty Group Trust by 19.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust's stock valued at $187,000 after purchasing an additional 1,210 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

NYSE KRG traded up $0.14 during trading hours on Wednesday, reaching $22.66. The company's stock had a trading volume of 1,225,243 shares, compared to its average volume of 1,505,221. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The company's 50-day moving average is $22.76 and its two-hundred day moving average is $24.91. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The stock has a market cap of $4.98 billion, a PE ratio of 1,132.75, a PEG ratio of 3.57 and a beta of 1.30.

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Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.77%. Kite Realty Group Trust's dividend payout ratio (DPR) is 5,400.00%.

Wall Street Analyst Weigh In

KRG has been the subject of a number of recent research reports. Jefferies Financial Group cut Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Piper Sandler restated a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company cut 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. JPMorgan Chase & Co. cut their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Finally, Raymond James lowered their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research note on Monday, March 10th. Five 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $27.88.

About Kite Realty Group Trust

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.