Short Interest in Kite Realty Group Trust (NYSE:KRG) Increases By 7.8%

Kite Realty Group Trust (NYSE:KRG) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 7,560,000 shares, a growth of 7.8% from the December 31st 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp upped their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped 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 report on Wednesday, January 15th. Robert W. Baird increased their target price on 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 downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, three have assigned 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 a consensus rating of “Moderate Buy” and an average target price of $29.13.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG traded down $0.08 during midday trading on Tuesday, reaching $22.79. The company’s stock had a trading volume of 121,979 shares, compared to its average volume of 1,913,493. The stock has a market capitalization of $5.01 billion, a P/E ratio of -569.25, a PEG ratio of 3.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The firm has a 50 day moving average price of $25.05 and a 200-day moving average price of $25.52. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRG. UMB Bank n.a. boosted its holdings in shares of Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 950 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kite Realty Group Trust in the third quarter worth about $39,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Kite Realty Group Trust in the third quarter valued at approximately $45,000. Quarry LP grew its stake in Kite Realty Group Trust by 108.4% during the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,080 shares during the period. 90.81% of the stock is currently owned by institutional investors.

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.