Short Interest in Kite Realty Group Trust (NYSE:KRG) Decreases By 15.2%

Kite Realty Group Trust (NYSE:KRG) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 5,680,000 shares, a decline of 15.2% from the March 15th total of 6,700,000 shares. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is currently 2.7 days. Approximately 2.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Raymond James dropped their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average price target of $27.88.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. EMC Capital Management lifted its stake in Kite Realty Group Trust by 4.9% in the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 447 shares during the period. Fifth Third Bancorp boosted its stake in Kite Realty Group Trust by 2.6% during the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock worth $465,000 after acquiring an additional 466 shares during the last quarter. Optiver Holding B.V. increased its stake in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 467 shares in the last quarter. Arizona State Retirement System raised its holdings in Kite Realty Group Trust by 0.8% in the fourth quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust’s stock worth $1,609,000 after purchasing an additional 516 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in shares of Kite Realty Group Trust by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust’s stock worth $806,000 after purchasing an additional 556 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Up 1.5 %

Shares of NYSE KRG opened at $21.36 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The company has a market cap of $4.69 billion, a PE ratio of 1,067.80, a P/E/G ratio of 3.57 and a beta of 1.05. The company has a 50-day moving average of $21.90 and a two-hundred day moving average of $24.19. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. As a group, equities analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend was Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

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.