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

Kite Realty Group Trust (NYSE:KRG) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 7,560,000 shares, a growth of 7.8% from the December 15th total of 7,010,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the days-to-cover ratio is presently 4.8 days.

Analysts Set New Price Targets

Several research analysts recently commented on KRG shares. KeyCorp lifted their price target on 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. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday. Robert W. Baird increased their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.13.

Institutional Trading of Kite Realty Group Trust

Several institutional investors and hedge funds have recently modified their holdings of KRG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Kite Realty Group Trust by 432.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock worth $36,150,000 after purchasing an additional 1,105,539 shares in the last quarter. Land & Buildings Investment Management LLC bought a new position in shares of Kite Realty Group Trust during the 2nd quarter worth $22,277,000. APG Asset Management US Inc. purchased a new position in shares of Kite Realty Group Trust during the second quarter valued at $16,665,000. Franklin Resources Inc. increased its stake in shares of Kite Realty Group Trust by 51.5% during the third quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock valued at $50,684,000 after buying an additional 673,976 shares during the period. Finally, Lighthouse Investment Partners LLC raised its holdings in shares of Kite Realty Group Trust by 157.9% in the second quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock valued at $16,449,000 after acquiring an additional 450,000 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG traded up $0.10 during mid-day trading on Friday, reaching $23.34. The company had a trading volume of 2,349,386 shares, compared to its average volume of 1,383,322. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The business’s 50-day moving average is $25.77 and its 200-day moving average is $25.44. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Friday, January 10th were paid a $0.27 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Friday, January 10th. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

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.