Guggenheim Capital LLC Reduces Stock Position in Kite Realty Group Trust (NYSE:KRG)

Guggenheim Capital LLC trimmed its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 84.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,868 shares of the real estate investment trust's stock after selling 272,705 shares during the period. Guggenheim Capital LLC's holdings in Kite Realty Group Trust were worth $1,259,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Kite Realty Group Trust in the 3rd quarter worth approximately $39,000. Versant Capital Management Inc lifted its position in Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock worth $62,000 after buying an additional 2,080 shares during the period. FIL Ltd boosted its stake in Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after buying an additional 579 shares during the last quarter. Spectrum Wealth Counsel LLC purchased a new stake in Kite Realty Group Trust in the 4th quarter valued at about $101,000. Finally, Headlands Technologies LLC acquired a new position in shares of Kite Realty Group Trust during the 4th quarter valued at about $116,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 0.8 %

KRG opened at $21.18 on Tuesday. The firm has a market capitalization of $4.65 billion, a P/E ratio of 1,059.00, a P/E/G ratio of 3.57 and a beta of 1.05. The firm's 50 day moving average is $21.86 and its 200-day moving average is $24.16. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 52-week low of $18.52 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued 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 net margin of 0.48% and a return on equity of 0.12%. Analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date was Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.

Analyst Ratings Changes

A number of research firms recently issued reports on KRG. Wells Fargo & Company lowered their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Piper Sandler restated a "neutral" rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James reduced 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. Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and dropped their price target for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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