Short Interest in Kite Realty Group Trust (NYSE:KRG) Decreases By 13.8%

Kite Realty Group Trust (NYSE:KRG) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 5,380,000 shares, a decline of 13.8% from the May 31st total of 6,240,000 shares. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is presently 3.5 days.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG traded down $0.16 during mid-day trading on Monday, hitting $22.22. 1,175,863 shares of the company were exchanged, compared to its average volume of 1,728,884. The stock has a 50 day simple moving average of $21.56 and a 200-day simple moving average of $21.56. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $24.26. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 85.73, a price-to-earnings-growth ratio of 5.65 and a beta of 1.31.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Tuesday, July 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 384.63%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KRG. Pineridge Advisors LLC acquired a new position in Kite Realty Group Trust during the fourth quarter worth about $39,000. Wolverine Asset Management LLC lifted its stake in shares of Kite Realty Group Trust by 280.5% during the fourth quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,327 shares during the period. Fidelis Capital Partners LLC acquired a new position in Kite Realty Group Trust in the 1st quarter valued at $42,000. SageView Advisory Group LLC purchased a new position in Kite Realty Group Trust during the first quarter worth about $52,000. Finally, Blue Trust Inc. boosted its position in shares of Kite Realty Group Trust by 41.7% in the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 742 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Thursday, April 18th. Wells Fargo & Company increased their price target on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust has an average rating of “Hold” and a consensus target price of $26.00.

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.