CIBC Private Wealth Group LLC Has $269,000 Stake in Kite Realty Group Trust (NYSE:KRG)

CIBC Private Wealth Group LLC reduced its stake in Kite Realty Group Trust (NYSE:KRG) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,302 shares of the real estate investment trust’s stock after selling 515 shares during the period. CIBC Private Wealth Group LLC’s holdings in Kite Realty Group Trust were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Kite Realty Group Trust in the fourth quarter valued at approximately $91,335,000. JPMorgan Chase & Co. boosted its holdings in shares of Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after acquiring an additional 2,308,613 shares in the last quarter. Aew Capital Management L P acquired a new stake in shares of Kite Realty Group Trust during the 4th quarter valued at $31,663,000. Raymond James Financial Inc. bought a new stake in Kite Realty Group Trust during the 4th quarter worth $19,632,000. Finally, Franklin Resources Inc. increased its holdings in Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after purchasing an additional 673,976 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Down 3.6 %

Shares of Kite Realty Group Trust stock opened at $20.82 on Friday. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 1,040.75, a PEG ratio of 3.57 and a beta of 1.05. The stock’s 50-day moving average is $22.58 and its 200 day moving average is $24.69. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24.

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 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%. Equities research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 5.19%. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price target for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler restated a “neutral” rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company cut 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 report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Raymond James cut their target price on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, March 10th. Five investment 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.