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

Kite Realty Group Trust (NYSE:KRG) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 5,930,000 shares, a decline of 6.5% from the March 15th total of 6,340,000 shares. Based on an average daily trading volume, of 1,850,000 shares, the short-interest ratio is currently 3.2 days.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Kite Realty Group Trust from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. StockNews.com raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.00.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock traded down $0.12 during trading hours on Tuesday, reaching $19.90. The company’s stock had a trading volume of 943,338 shares, compared to its average volume of 1,831,282. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.76. Kite Realty Group Trust has a one year low of $19.16 and a one year high of $24.26. The company’s 50 day simple moving average is $21.13 and its 200 day simple moving average is $21.39. The stock has a market cap of $4.37 billion, a P/E ratio of 91.00, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, April 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Thursday, April 4th. Kite Realty Group Trust’s payout ratio is 454.57%.

Hedge Funds Weigh In On Kite Realty Group Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pensionfund Sabic raised its position in shares of Kite Realty Group Trust by 26.2% during the 1st quarter. Pensionfund Sabic now owns 43,400 shares of the real estate investment trust’s stock worth $941,000 after buying an additional 9,000 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Kite Realty Group Trust during the 1st quarter valued at $524,000. Pensionfund DSM Netherlands raised its stake in shares of Kite Realty Group Trust by 12.1% in the 1st quarter. Pensionfund DSM Netherlands now owns 83,500 shares of the real estate investment trust’s stock worth $1,810,000 after buying an additional 9,000 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at $314,000. Finally, Vanguard Group Inc. raised its position in Kite Realty Group Trust by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 32,715,871 shares of the real estate investment trust’s stock worth $747,885,000 after acquiring an additional 344,226 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.