Short Interest in Kite Realty Group Trust (NYSE:KRG) Declines By 13.4%

Kite Realty Group Trust (NYSE:KRG) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 5,450,000 shares, a decrease of 13.4% from the September 15th total of 6,290,000 shares. Based on an average trading volume of 1,370,000 shares, the short-interest ratio is presently 4.0 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. KeyCorp boosted their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Friday, August 16th. Piper Sandler boosted their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Compass Point raised their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued 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 a consensus target price of $28.00.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG traded up $0.22 during midday trading on Wednesday, reaching $26.20. 1,375,652 shares of the company traded hands, compared to its average volume of 1,591,322. The stock’s 50-day simple moving average is $25.77 and its 200-day simple moving average is $23.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.15. The firm has a market cap of $5.75 billion, a PE ratio of 100.65, a PEG ratio of 3.93 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be given a $0.26 dividend. The ex-dividend date is Wednesday, October 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 3.97%. Kite Realty Group Trust’s payout ratio is 400.00%.

Insider Buying and Selling at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the sale, the director now owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Kite Realty Group Trust

Several hedge funds have recently modified their holdings of KRG. Creative Planning grew its position in Kite Realty Group Trust by 8.1% during the 3rd quarter. Creative Planning now owns 21,784 shares of the real estate investment trust’s stock worth $579,000 after acquiring an additional 1,634 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new position in shares of Kite Realty Group Trust during the third quarter worth approximately $2,340,000. Inspire Investing LLC grew its stake in shares of Kite Realty Group Trust by 18.3% during the third quarter. Inspire Investing LLC now owns 18,708 shares of the real estate investment trust’s stock valued at $497,000 after purchasing an additional 2,889 shares during the last quarter. UMB Bank n.a. increased 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 valued at $28,000 after purchasing an additional 950 shares in the last quarter. Finally, Marcum Wealth LLC raised its position in Kite Realty Group Trust by 1.4% in the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock worth $1,085,000 after purchasing an additional 571 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.