Kite Realty Group Trust (NYSE:KRG) Sees Significant Increase in Short Interest

Kite Realty Group Trust (NYSE:KRG) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 6,190,000 shares, an increase of 13.6% from the September 30th total of 5,450,000 shares. Based on an average trading volume of 1,430,000 shares, the short-interest ratio is currently 4.3 days.

Insider Buying and Selling

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of large investors have recently bought and sold shares of KRG. UMB Bank n.a. increased its position in shares of Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 950 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Kite Realty Group Trust during the third quarter worth $45,000. Fidelis Capital Partners LLC acquired a new position in shares of Kite Realty Group Trust during the first quarter worth $42,000. GAMMA Investing LLC increased its position in shares of Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Quarry LP increased its position in shares of Kite Realty Group Trust by 108.4% during the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 1.3 %

NYSE:KRG traded down $0.35 during trading hours on Thursday, reaching $25.69. The company’s stock had a trading volume of 3,411,470 shares, compared to its average volume of 1,591,204. The company has a market capitalization of $5.64 billion, a P/E ratio of -236.73, a price-to-earnings-growth ratio of 3.99 and a beta of 1.29. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a 50 day moving average price of $26.07 and a two-hundred day moving average price of $23.68.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a $0.27 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.20%. Kite Realty Group Trust’s payout ratio is -945.45%.

Analysts Set New Price Targets

Several research analysts have issued reports on KRG shares. Piper Sandler boosted their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Compass Point boosted their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Robert W. Baird boosted their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research note on Friday, August 16th. Finally, KeyCorp lifted their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.