Short Interest in Kite Realty Group Trust (NYSE:KRG) Grows By 7.0%

Kite Realty Group Trust (NYSE:KRGGet Free Report) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 6,240,000 shares, a growth of 7.0% from the May 15th total of 5,830,000 shares. Based on an average trading volume of 1,640,000 shares, the days-to-cover ratio is currently 3.8 days.

Kite Realty Group Trust Stock Performance

NYSE:KRG traded down $0.07 on Wednesday, hitting $21.81. The stock had a trading volume of 1,085,418 shares, compared to its average volume of 1,296,741. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 83.87, a price-to-earnings-growth ratio of 5.52 and a beta of 1.28. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90. The business’s 50-day simple moving average is $21.28 and its two-hundred day simple moving average is $21.57. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $24.26.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Tuesday, July 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.00 annualized dividend and a yield of 4.59%. Kite Realty Group Trust’s payout ratio is 384.63%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KRG. Wells Fargo & Company raised their price target on Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Thursday, April 18th. Finally, StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.40.

Get Our Latest Report on Kite Realty Group Trust

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pineridge Advisors LLC purchased a new position in Kite Realty Group Trust in the fourth quarter worth about $39,000. Wolverine Asset Management LLC raised its stake in shares of Kite Realty Group Trust by 280.5% in the fourth quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,327 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Kite Realty Group Trust in the first quarter worth about $42,000. SageView Advisory Group LLC bought a new position in shares of Kite Realty Group Trust in the first quarter worth about $52,000. Finally, Blue Trust Inc. raised its stake in shares of Kite Realty Group Trust by 41.7% in the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 742 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

About Kite Realty Group Trust

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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.

Further Reading

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