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

Kite Realty Group Trust (NYSE:KRG) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 5,450,000 shares, a decrease of 13.4% from the September 15th total of 6,290,000 shares. Based on an average trading volume of 1,370,000 shares, the days-to-cover ratio is currently 4.0 days.

Insider Buying and Selling at Kite Realty Group Trust

In related 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 value of $999,506.00. Following the sale, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Kite Realty Group Trust by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after purchasing an additional 881,502 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kite Realty Group Trust by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after purchasing an additional 190,380 shares in the last quarter. Millennium Management LLC increased its position in Kite Realty Group Trust by 17.7% during the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after buying an additional 386,566 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 valued at $48,955,000 after buying an additional 32,493 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Kite Realty Group Trust by 16.6% in the second quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock worth $46,566,000 after buying an additional 295,708 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KRG. KeyCorp boosted their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Raymond James raised 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. Piper Sandler boosted 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 report on Tuesday, September 3rd. Robert W. Baird raised their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, 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 note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Kite Realty Group Trust Stock Up 0.8 %

Shares of NYSE:KRG traded up $0.22 during trading on Wednesday, reaching $26.20. 1,375,652 shares of the company traded hands, compared to its average volume of 1,591,322. The firm has a fifty day simple moving average of $25.77 and a 200 day simple moving average of $23.28. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.15. The firm has a market cap of $5.75 billion, a P/E ratio of 100.65, a price-to-earnings-growth ratio of 3.93 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 3.97%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s payout ratio is 400.00%.

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.