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

Kite Realty Group Trust (NYSE:KRG) was the recipient of a large 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 short-interest ratio is currently 4.8 days.

Hedge Funds Weigh In On Kite Realty Group Trust

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Kite Realty Group Trust by 432.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after buying an additional 1,105,539 shares in the last quarter. Land & Buildings Investment Management LLC purchased a new position in shares of Kite Realty Group Trust during the second quarter worth about $22,277,000. APG Asset Management US Inc. acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth about $16,665,000. Franklin Resources Inc. lifted its holdings in shares of Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock valued at $50,684,000 after purchasing an additional 673,976 shares during the last quarter. Finally, Lighthouse Investment Partners LLC boosted its position in shares of Kite Realty Group Trust by 157.9% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock valued at $16,449,000 after purchasing an additional 450,000 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 0.4 %

Kite Realty Group Trust stock traded up $0.10 during trading on Monday, reaching $23.34. The stock had a trading volume of 2,349,386 shares, compared to its average volume of 1,383,322. 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 52-week low of $19.64 and a 52-week high of $28.24. The stock has a market cap of $5.13 billion, a PE ratio of -583.58, a P/E/G ratio of 3.17 and a beta of 1.29. The business has a 50 day moving average price of $25.77 and a 200 day moving average price of $25.46.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, January 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.63%. 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%.

Wall Street Analyst Weigh In

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

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.