Mackenzie Financial Corp Buys 3,339 Shares of Kite Realty Group Trust (NYSE:KRG)

Mackenzie Financial Corp lifted its stake in Kite Realty Group Trust (NYSE:KRGGet Rating) by 12.1% in the second quarter, HoldingsChannel.com reports. The fund owned 30,848 shares of the real estate investment trust’s stock after purchasing an additional 3,339 shares during the period. Mackenzie Financial Corp’s holdings in Kite Realty Group Trust were worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd grew its stake in shares of Kite Realty Group Trust by 7,854.2% in the first quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,885 shares during the period. MCF Advisors LLC bought a new stake in shares of Kite Realty Group Trust in the first quarter worth approximately $54,000. Lazard Asset Management LLC grew its stake in shares of Kite Realty Group Trust by 71.5% in the second quarter. Lazard Asset Management LLC now owns 3,444 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,436 shares during the period. Prospera Financial Services Inc bought a new stake in shares of Kite Realty Group Trust in the first quarter worth approximately $80,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Kite Realty Group Trust by 10,968.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,542 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 3,510 shares during the period. 95.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 32,054 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $22.22, for a total value of $712,239.88. Following the transaction, the director now owns 791,452 shares of the company’s stock, valued at $17,586,063.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Steven P. Grimes sold 32,054 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $22.22, for a total value of $712,239.88. Following the transaction, the director now owns 791,452 shares of the company’s stock, valued at $17,586,063.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven P. Grimes sold 46,500 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $21.77, for a total transaction of $1,012,305.00. Following the completion of the transaction, the director now directly owns 823,506 shares in the company, valued at approximately $17,927,725.62. The disclosure for this sale can be found here. Insiders sold a total of 89,784 shares of company stock worth $1,949,369 over the last three months. 1.30% of the stock is currently owned by company insiders.

Kite Realty Group Trust Stock Performance

KRG opened at $22.03 on Friday. The firm has a market cap of $4.83 billion, a P/E ratio of -37.98, a PEG ratio of 1.31 and a beta of 1.33. Kite Realty Group Trust has a 1-year low of $16.42 and a 1-year high of $23.35. The company has a 50 day simple moving average of $19.23 and a two-hundred day simple moving average of $19.38. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.15 and a quick ratio of 1.15.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, January 6th will be given a $0.24 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Thursday, January 5th. Kite Realty Group Trust’s dividend payout ratio is presently -151.72%.

Analysts Set New Price Targets

KRG has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 in a research report on Monday, August 15th. StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Friday, November 4th. Citigroup upgraded shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $22.00 in a research report on Monday, September 19th. Barclays cut their target price on shares of Kite Realty Group Trust to $24.00 in a research report on Thursday, October 27th. Finally, Piper Sandler boosted their target price on shares of Kite Realty Group Trust to $25.00 in a research report on Wednesday, November 16th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.13.

Kite Realty Group Trust Profile

(Get Rating)

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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Institutional Ownership by Quarter for Kite Realty Group Trust (NYSE:KRG)

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