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

Kite Realty Group Trust (NYSE:KRG) was the target of a significant growth in short interest in the month of 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 volume of 1,570,000 shares, the days-to-cover ratio is presently 4.8 days.

Institutional Trading of Kite Realty Group Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Kite Realty Group Trust by 0.8% during the 3rd 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. raised its holdings in Kite Realty Group Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock worth $96,993,000 after buying an additional 173,290 shares during the period. Dimensional Fund Advisors LP raised its holdings in 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 worth $73,442,000 after buying an additional 190,380 shares during the period. Millennium Management LLC raised its holdings in 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 worth $57,427,000 after buying an additional 386,566 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Kite Realty Group Trust by 51.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after buying an additional 673,976 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KRG shares. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, KeyCorp upped their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and a consensus target price of $29.13.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $23.34 on Tuesday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -583.58, a PEG ratio of 3.17 and a beta of 1.29. The firm has a 50-day moving average of $25.69 and a two-hundred day moving average of $25.47.

Kite Realty Group Trust Increases Dividend

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

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.