Kite Realty Group Trust (NYSE:KRG) Short Interest Down 13.4% in September

Kite Realty Group Trust (NYSE:KRG) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 5,450,000 shares, a decline of 13.4% from the September 15th total of 6,290,000 shares. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is presently 4.0 days.

Kite Realty Group Trust Trading Up 0.8 %

KRG traded up $0.22 during trading hours on Wednesday, reaching $26.20. 1,375,652 shares of the company’s stock traded hands, compared to its average volume of 1,591,322. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $27.15. The firm has a market capitalization of $5.75 billion, a PE ratio of 100.77, a PEG ratio of 3.93 and a beta of 1.29. The firm has a 50-day moving average price of $25.77 and a 200 day moving average price of $23.28. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.26 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio is 400.00%.

Insider Buying and Selling

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of hedge funds have recently made changes to their positions in the stock. Marcum Wealth LLC lifted its stake in shares of Kite Realty Group Trust by 1.4% during the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock worth $1,085,000 after purchasing an additional 571 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Kite Realty Group Trust by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock valued at $2,745,000 after purchasing an additional 649 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Kite Realty Group Trust by 0.3% in the first quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock valued at $5,973,000 after purchasing an additional 724 shares during the period. United Services Automobile Association increased its holdings in shares of Kite Realty Group Trust by 4.6% in the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 777 shares during the period. Finally, UniSuper Management Pty Ltd increased its holdings in shares of Kite Realty Group Trust by 1.5% in the first quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock valued at $1,352,000 after purchasing an additional 900 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KRG. Piper Sandler lifted their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 16th. Compass Point boosted their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, KeyCorp boosted their target price on 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. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

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.