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

Kite Realty Group Trust (NYSE:KRG) 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.

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

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.