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

Kite Realty Group Trust (NYSE:KRG) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 8,750,000 shares, a growth of 13.2% from the January 15th total of 7,730,000 shares. Based on an average trading volume of 1,690,000 shares, the days-to-cover ratio is currently 5.2 days.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KRG shares. Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. KeyCorp upped their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Robert W. Baird raised their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, Piper Sandler reissued a “neutral” rating and set a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Hold” and an average price target of $28.13.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Kite Realty Group Trust during the 3rd quarter worth $39,000. Strategic Investment Solutions Inc. IL purchased a new position in Kite Realty Group Trust in the third quarter valued at about $45,000. Versant Capital Management Inc lifted its position in shares of 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 valued at $62,000 after acquiring an additional 2,080 shares during the period. Optiver Holding B.V. boosted its stake in shares of Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 467 shares in the last quarter. Finally, FIL Ltd grew its holdings in shares of Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 579 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock traded down $0.85 during midday trading on Monday, hitting $22.40. 3,816,868 shares of the company’s stock were exchanged, compared to its average volume of 1,896,697. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The firm’s 50 day simple moving average is $24.11 and its 200 day simple moving average is $25.43. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of -559.88, a price-to-earnings-growth ratio of 3.63 and a beta of 1.27.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. Equities research analysts predict that Kite Realty Group Trust will post 2.06 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 4.82%. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

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.