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

Kite Realty Group Trust (NYSE:KRG) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 7,560,000 shares, an increase of 7.8% from the December 15th total of 7,010,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the short-interest ratio is currently 4.8 days.

Kite Realty Group Trust Price Performance

KRG stock traded up $0.10 during trading on Friday, reaching $23.34. The company had a trading volume of 2,349,386 shares, compared to its average volume of 1,383,322. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The firm has a 50-day simple moving average of $25.77 and a 200-day simple moving average of $25.44.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Friday, January 10th were given 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 yield of 4.63%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s payout ratio is currently -2,700.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KRG. UMB Bank n.a. increased its stake 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 position in shares of Kite Realty Group Trust during the 3rd quarter valued at about $39,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Kite Realty Group Trust during the 3rd quarter valued at about $45,000. Quarry LP lifted its holdings in shares of Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,167 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,080 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KRG has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday. Jefferies Financial Group cut shares of 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. KeyCorp lifted their price objective on shares of 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. Finally, Robert W. Baird raised their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Five investment 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.