Kite Realty Group Trust (NYSE:KRG) Short Interest Up 13.6% in October

Kite Realty Group Trust (NYSE:KRG) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 6,190,000 shares, an increase of 13.6% from the September 30th total of 5,450,000 shares. Based on an average trading volume of 1,430,000 shares, the short-interest ratio is presently 4.3 days.

Insider Activity

In other news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust 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 directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. raised its holdings in Kite Realty Group Trust by 819.0% during 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 acquiring an additional 950 shares during the period. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust during the first quarter valued at about $42,000. GAMMA Investing LLC grew its position in shares of Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Kite Realty Group Trust during the third quarter valued at about $45,000. Finally, Quarry LP grew its position in shares of Kite Realty Group Trust by 108.4% during the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,167 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock traded down $0.35 during trading on Thursday, reaching $25.69. The company had a trading volume of 3,411,470 shares, compared to its average volume of 1,591,204. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $27.15. The firm’s 50-day simple moving average is $26.07 and its 200 day simple moving average is $23.68. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -236.73, a price-to-earnings-growth ratio of 3.99 and a beta of 1.29. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be issued a $0.27 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -945.45%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. KeyCorp increased their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Robert W. Baird upped their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Friday, August 16th. Piper Sandler upped their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.00.

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.