Short Interest in Kite Realty Group Trust (NYSE:KRG) Increases By 11.2%

Kite Realty Group Trust (NYSE:KRGGet Free Report) was the recipient of a large increase in short interest in 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 trading volume of 1,430,000 shares, the days-to-cover ratio is presently 4.3 days.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KRG shares. Piper Sandler raised their price objective on 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. KeyCorp raised their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Compass Point upped their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Friday, August 16th. Finally, Robert W. Baird increased their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Three equities research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

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Kite Realty Group Trust Trading Down 1.9 %

KRG traded down $0.53 during midday trading on Monday, hitting $27.04. 711,156 shares of the company were exchanged, compared to its average volume of 1,583,025. The firm has a market capitalization of $5.94 billion, a P/E ratio of -689.25, a P/E/G ratio of 3.83 and a beta of 1.29. The firm’s 50 day moving average price is $26.51 and its 200-day moving average price is $24.63. 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 1-year low of $19.64 and a 1-year high of $28.24.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

Insider Activity

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Kite Realty Group Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after buying an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Kite Realty Group Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock valued at $96,993,000 after purchasing an additional 173,290 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Kite Realty Group Trust by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after purchasing an additional 190,380 shares in the last quarter. Millennium Management LLC boosted its position in shares of Kite Realty Group Trust by 17.7% during the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock valued at $57,427,000 after purchasing an additional 386,566 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Kite Realty Group Trust by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock worth $48,955,000 after purchasing an additional 32,493 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

(Get Free Report)

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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