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

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

Kite Realty Group Trust Stock Down 0.2 %

Shares of Kite Realty Group Trust stock traded down $0.04 during trading on Friday, hitting $21.84. 1,469,045 shares of the stock traded hands, compared to its average volume of 2,079,412. The stock has a market cap of $4.80 billion, a P/E ratio of 1,092.00, a PEG ratio of 3.57 and a beta of 1.05. The company has a fifty day moving average price of $21.81 and a two-hundred day moving average price of $24.10. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Equities research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KRG. Opal Wealth Advisors LLC bought a new stake in Kite Realty Group Trust during the first quarter valued at about $25,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Kite Realty Group Trust during the 1st quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new stake in Kite Realty Group Trust during the 3rd quarter valued at approximately $39,000. Versant Capital Management Inc grew its holdings in Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 2,080 shares during the last quarter. Finally, Optiver Holding B.V. grew its holdings in Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 467 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KRG has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Piper Sandler reiterated a "neutral" rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Raymond James reduced their price objective on 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. JPMorgan Chase & Co. lowered their target price 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, Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.88.

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.