Kite Realty Group Trust (NYSE:KRG) Sees Significant Growth in Short Interest

Kite Realty Group Trust (NYSE:KRG - Get Free Report) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 7,560,000 shares, a growth of 7.8% from the December 15th total of 7,010,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the days-to-cover ratio is presently 4.8 days.

Analysts Set New Price Targets

Several research analysts recently commented on KRG shares. KeyCorp lifted their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday. Robert W. Baird increased their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Finally, Jefferies Financial Group lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.13.

Institutional Trading of Kite Realty Group Trust

Several institutional investors and hedge funds have recently modified their holdings of KRG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Kite Realty Group Trust by 432.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust's stock worth $36,150,000 after purchasing an additional 1,105,539 shares in the last quarter. Land & Buildings Investment Management LLC bought a new position in shares of Kite Realty Group Trust during the 2nd quarter worth $22,277,000. APG Asset Management US Inc. purchased a new position in shares of Kite Realty Group Trust during the second quarter valued at $16,665,000. Franklin Resources Inc. increased its stake in shares of Kite Realty Group Trust by 51.5% during the third quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust's stock valued at $50,684,000 after buying an additional 673,976 shares during the period. Finally, Lighthouse Investment Partners LLC raised its holdings in shares of Kite Realty Group Trust by 157.9% in the second quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust's stock valued at $16,449,000 after acquiring an additional 450,000 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 up $0.10 during mid-day trading on Friday, reaching $23.34. The company had a trading volume of 2,349,386 shares, compared to its average volume of 1,383,322. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The business's 50-day moving average is $25.77 and its 200-day moving average is $25.44. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Friday, January 10th were paid a $0.27 dividend. This is an increase 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 4.63%. The ex-dividend date was Friday, January 10th. Kite Realty Group Trust's dividend payout ratio is currently -2,700.00%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.