Short Interest in Kite Realty Group Trust (NYSE:KRG) Drops By 13.8%

Kite Realty Group Trust (NYSE:KRG) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 5,380,000 shares, a drop of 13.8% from the May 31st total of 6,240,000 shares. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is presently 3.5 days.

Kite Realty Group Trust Stock Performance

Shares of KRG traded down $0.16 during mid-day trading on Monday, hitting $22.22. The stock had a trading volume of 1,175,863 shares, compared to its average volume of 1,728,884. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $24.26. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.72 and a quick ratio of 2.72. The business has a fifty day moving average price of $21.56 and a 200-day moving average price of $21.56. The firm has a market cap of $4.88 billion, a P/E ratio of 85.73, a PEG ratio of 5.65 and a beta of 1.31.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Tuesday, July 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, July 9th. Kite Realty Group Trust’s dividend payout ratio is currently 384.63%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KRG shares. Wells Fargo & Company lifted their price objective on shares of 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 shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

Institutional Investors Weigh In On Kite Realty Group Trust

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners bought a new stake in shares of Kite Realty Group Trust in the first quarter valued at approximately $752,000. Bluefin Capital Management LLC bought a new position in shares of Kite Realty Group Trust in the first quarter valued at approximately $1,355,000. EMC Capital Management purchased a new position in Kite Realty Group Trust during the first quarter valued at approximately $208,000. Bayesian Capital Management LP increased its holdings in Kite Realty Group Trust by 22.5% during the 1st quarter. Bayesian Capital Management LP now owns 36,422 shares of the real estate investment trust’s stock worth $790,000 after acquiring an additional 6,700 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Kite Realty Group Trust by 6.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 137,186 shares of the real estate investment trust’s stock worth $2,975,000 after purchasing an additional 8,353 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

About Kite Realty Group Trust

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.