Kite Realty Group Trust (NYSE:KRG) Short Interest Update

Kite Realty Group Trust (NYSE:KRG) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,170,000 shares, an increase of 11.2% from the October 31st total of 5,550,000 shares. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is currently 4.3 days.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the sale, the director now owns 732,252 shares in the company, valued at $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KRG. UMB Bank n.a. lifted its holdings in shares of Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 950 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Kite Realty Group Trust during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC lifted its stake in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Kite Realty Group Trust in the third quarter valued at approximately $45,000. Finally, Quarry LP grew its stake 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 buying an additional 1,167 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 0.8 %

Shares of Kite Realty Group Trust stock opened at $26.90 on Wednesday. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of -672.50, a PEG ratio of 3.76 and a beta of 1.28. The firm’s 50-day moving average price is $26.53 and its two-hundred day moving average price is $24.71.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a dividend of $0.27 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.01%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,600.00%.

Analysts Set New Price Targets

KRG has been the subject of several research reports. Robert W. Baird lifted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Compass Point boosted their target price on shares of 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. Piper Sandler upped their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research note on Friday, August 16th. Finally, KeyCorp increased their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.86.

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.