Kite Realty Group Trust (NYSE:KRG - Get Free Report) was the recipient of a large 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 daily volume of 1,430,000 shares, the days-to-cover ratio is presently 4.3 days.
Insider Activity at Kite Realty Group Trust
In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction dated Monday, September 16th. The shares were 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 $19,624,353.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. UMB Bank n.a. increased its position in shares of Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 950 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Kite Realty Group Trust in the first quarter worth approximately $42,000. GAMMA Investing LLC increased its position in shares of Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust's stock worth $44,000 after acquiring 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 in the third quarter worth approximately $45,000. Finally, Quarry LP increased its position in shares of Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,167 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.
Kite Realty Group Trust Price Performance
Shares of KRG traded down $0.08 during mid-day trading on Tuesday, hitting $25.74. The company's stock had a trading volume of 1,151,731 shares, compared to its average volume of 1,580,000. The firm has a 50-day moving average price of $26.05 and a 200 day moving average price of $23.63. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of -234.00, a PEG ratio of 3.99 and a beta of 1.29. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. KeyCorp lifted their price objective on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, August 20th. Robert W. Baird boosted their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Compass Point boosted their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Finally, Raymond James upgraded shares of 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 report on Friday, August 16th. Three 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.
Check Out Our Latest Stock Analysis on KRG
Kite Realty Group Trust Company Profile
(
Get Free Report)
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.
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