Kite Realty Group Trust (NYSE:KRG) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 79.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,760 shares of the real estate investment trust’s stock after selling 400,362 shares during the period. Mackenzie Financial Corp’s holdings in Kite Realty Group Trust were worth $2,366,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Cetera Investment Advisers lifted its stake in shares of Kite Realty Group Trust by 129.2% in the 1st quarter. Cetera Investment Advisers now owns 44,414 shares of the real estate investment trust’s stock valued at $994,000 after purchasing an additional 25,040 shares during the period. KLP Kapitalforvaltning AS lifted its stake in shares of Kite Realty Group Trust by 7.0% in the 1st quarter. KLP Kapitalforvaltning AS now owns 56,495 shares of the real estate investment trust’s stock valued at $1,264,000 after purchasing an additional 3,700 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Kite Realty Group Trust by 3.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 249,210 shares of the real estate investment trust’s stock valued at $5,575,000 after purchasing an additional 7,310 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Kite Realty Group Trust by 516.1% in the 1st quarter. Allianz Asset Management GmbH now owns 623,772 shares of the real estate investment trust’s stock valued at $13,954,000 after purchasing an additional 522,529 shares during the period. Finally, Bernzott Capital Advisors lifted its stake in shares of Kite Realty Group Trust by 0.8% in the 1st quarter. Bernzott Capital Advisors now owns 244,835 shares of the real estate investment trust’s stock valued at $5,477,000 after purchasing an additional 1,905 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 1.6%

Shares of KRG opened at $21.63 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The firm has a 50-day moving average price of $22.49 and a 200 day moving average price of $22.35. The firm has a market capitalization of $4.75 billion, a P/E ratio of 27.37, a P/E/G ratio of 6.57 and a beta of 1.16.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The firm had revenue of $211.18 million during the quarter, compared to analyst estimates of $211.74 million. Sell-side analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.0%. Kite Realty Group Trust’s dividend payout ratio is currently 136.71%.

Wall Street Analyst Weigh In

KRG has been the subject of several analyst reports. Raymond James Financial decreased their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Friday, May 23rd. UBS Group started coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Wall Street Zen cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Seven research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.22.

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.