Kite Realty Group Trust (NYSE:KRG) Short Interest Up 13.6% in October

Kite Realty Group Trust (NYSE:KRGGet Free Report) was the target of a significant increase in short interest in 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.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG traded down $0.08 during trading hours on Tuesday, hitting $25.74. 1,151,731 shares of the stock were exchanged, compared to its average volume of 1,580,000. 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 one year low of $19.64 and a one year high of $27.15. The company’s 50 day moving average is $26.05 and its 200 day moving average is $23.63. The firm has a market capitalization of $5.65 billion, a P/E ratio of -234.00, a P/E/G ratio of 3.99 and a beta of 1.29.

Analysts Set New Price Targets

A number of research firms have issued reports on KRG. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Friday, August 16th. Compass Point lifted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Piper Sandler upped their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Read Our Latest Analysis on KRG

Insider Buying and Selling

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the sale, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds have recently bought and sold shares of KRG. Land & Buildings Investment Management LLC bought a new stake in Kite Realty Group Trust in the 2nd quarter valued at $22,277,000. Vanguard Group Inc. boosted its holdings in Kite Realty Group Trust by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after purchasing an additional 881,502 shares during the period. APG Asset Management US Inc. bought a new stake in Kite Realty Group Trust in the 2nd quarter valued at $16,665,000. F M Investments LLC bought a new stake in Kite Realty Group Trust in the 2nd quarter valued at $10,164,000. Finally, Lighthouse Investment Partners LLC boosted its holdings in Kite Realty Group Trust by 157.9% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock valued at $16,449,000 after purchasing an additional 450,000 shares during the period. 90.81% of the stock is owned by institutional investors.

About Kite Realty Group Trust

(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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