Kite Realty Group Trust (NYSE:KRG) Short Interest Up 7.8% in January

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 trading volume, of 1,570,000 shares, the days-to-cover ratio is presently 4.8 days.

Kite Realty Group Trust Stock Down 0.3 %

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

Analysts Set New Price Targets

Several brokerages recently commented on KRG. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Wells Fargo & Company lowered their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Robert W. Baird lifted their price objective 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. KeyCorp upped their target price on 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. Finally, 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. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KRG. UMB Bank n.a. raised its stake in Kite Realty Group Trust by 819.0% during the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 950 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust in the third quarter valued at approximately $39,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Kite Realty Group Trust in the third quarter worth $45,000. Quarry LP boosted its stake in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Kite Realty Group Trust by 551.7% in 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 last quarter. 90.81% of the stock is owned by hedge funds and other 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.