Kite Realty Group Trust (NYSE:KRG) Short Interest Update

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KRG. StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Piper Sandler upped their price objective on Kite Realty Group Trust from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Kite Realty Group Trust by 12.4% in the first quarter. BlackRock Inc. now owns 34,531,664 shares of the real estate investment trust’s stock worth $722,402,000 after purchasing an additional 3,818,524 shares during the period. Vanguard Group Inc. increased its stake in Kite Realty Group Trust by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 32,761,306 shares of the real estate investment trust’s stock worth $745,974,000 after acquiring an additional 378,764 shares during the last quarter. State Street Corp raised its holdings in shares of Kite Realty Group Trust by 15.0% in the 1st quarter. State Street Corp now owns 13,205,735 shares of the real estate investment trust’s stock valued at $300,695,000 after acquiring an additional 1,726,009 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Kite Realty Group Trust by 16.6% during 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 acquiring an additional 1,275,585 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Kite Realty Group Trust by 7.2% during the third quarter. Deutsche Bank AG now owns 7,545,779 shares of the real estate investment trust’s stock worth $161,631,000 after purchasing an additional 508,102 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG traded down $0.12 during trading on Tuesday, reaching $19.90. 943,338 shares of the stock traded hands, compared to its average volume of 1,831,282. The company has a 50-day moving average of $21.13 and a 200-day moving average of $21.39. Kite Realty Group Trust has a 52-week low of $19.16 and a 52-week high of $24.26. The stock has a market capitalization of $4.37 billion, a P/E ratio of 91.00, a price-to-earnings-growth ratio of 2.90 and a beta of 1.29. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, April 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Thursday, April 4th. Kite Realty Group Trust’s payout ratio is currently 454.57%.

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.