Kite Realty Group Trust (NYSE:KRG) Shares Bought by Bank of Montreal Can

Bank of Montreal Can lifted its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,065 shares of the real estate investment trust’s stock after purchasing an additional 2,571 shares during the quarter. Bank of Montreal Can’s holdings in Kite Realty Group Trust were worth $1,567,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC lifted its stake in shares of Kite Realty Group Trust by 42.5% in the 3rd quarter. HighTower Advisors LLC now owns 23,386 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 6,976 shares during the period. Barclays PLC raised its holdings in Kite Realty Group Trust by 29.0% during the third quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust’s stock worth $25,139,000 after purchasing an additional 212,983 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Kite Realty Group Trust by 60.3% in the third quarter. Sanctuary Advisors LLC now owns 24,451 shares of the real estate investment trust’s stock worth $670,000 after purchasing an additional 9,201 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Kite Realty Group Trust during the 3rd quarter valued at $39,000. Finally, Franklin Resources Inc. increased its position in shares of Kite Realty Group Trust by 51.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock valued at $50,684,000 after purchasing an additional 673,976 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $21.36 on Friday. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. 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 stock has a market cap of $4.69 billion, a PE ratio of 1,067.80, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The business has a fifty day simple moving average of $21.94 and a 200-day simple moving average of $24.25.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is presently 5,400.00%.

Wall Street Analyst Weigh In

KRG has been the subject of several research reports. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James cut their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company decreased 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 research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. reduced 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 note on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Kite Realty Group Trust Company 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.