Short Interest in Kite Realty Group Trust (NYSE:KRG) Drops By 6.5%

Kite Realty Group Trust (NYSE:KRG) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 5,930,000 shares, a decline of 6.5% from the March 15th total of 6,340,000 shares. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is currently 3.2 days.

Kite Realty Group Trust Price Performance

KRG stock traded down $0.10 during trading on Wednesday, reaching $19.92. 2,913,596 shares of the company were exchanged, compared to its average volume of 1,508,449. The company has a 50-day moving average of $21.08 and a two-hundred day moving average of $21.37. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 90.55, a P/E/G ratio of 2.88 and a beta of 1.29. Kite Realty Group Trust has a twelve month low of $19.16 and a twelve month high of $24.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.76 and a quick ratio of 0.76.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, April 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Thursday, April 4th. Kite Realty Group Trust’s payout ratio is 454.55%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Kite Realty Group Trust from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. StockNews.com upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.00.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of institutional investors have recently added to or reduced their stakes in KRG. BlackRock Inc. grew its holdings in Kite Realty Group Trust by 12.4% during the 1st quarter. BlackRock Inc. now owns 34,531,664 shares of the real estate investment trust’s stock worth $722,402,000 after acquiring an additional 3,818,524 shares during the last quarter. Norges Bank bought a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $52,746,000. State Street Corp grew its holdings in Kite Realty Group Trust by 15.0% during the 1st quarter. State Street Corp now owns 13,205,735 shares of the real estate investment trust’s stock worth $300,695,000 after acquiring an additional 1,726,009 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Kite Realty Group Trust by 16.6% in the 2nd quarter. Macquarie Group Ltd. now owns 8,943,429 shares of the real estate investment trust’s stock valued at $154,637,000 after purchasing an additional 1,275,585 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Kite Realty Group Trust by 156.6% in the 4th quarter. Strs Ohio now owns 1,869,278 shares of the real estate investment trust’s stock valued at $42,731,000 after purchasing an additional 1,140,700 shares during the last quarter. 90.81% of the stock is owned by 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.