Short Interest in Kite Realty Group Trust (NYSE:KRG) Rises By 5.1%

Kite Realty Group Trust (NYSE:KRG – Get Rating) was the recipient of a large growth in short interest in December. As of December 30th, there was short interest totalling 7,220,000 shares, a growth of 5.1% from the December 15th total of 6,870,000 shares. Based on an average daily volume of 1,640,000 shares, the short-interest ratio is currently 4.4 days.

Kite Realty Group Trust Trading Up 0.6 %

Shares of NYSE:KRG opened at $21.07 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.78. Kite Realty Group Trust has a 12 month low of $16.42 and a 12 month high of $23.35. The company has a 50-day moving average price of $21.41 and a 200 day moving average price of $20.00.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, January 6th were issued a $0.24 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, January 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.56%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently -165.52%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Friday, December 9th. Raymond James dropped their target price on shares of Kite Realty Group Trust from $27.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 4th. Bank of America raised shares of Kite Realty Group Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $22.00 to $25.00 in a report on Wednesday, November 9th. Piper Sandler upped their target price on shares of Kite Realty Group Trust to $25.00 in a report on Wednesday, November 16th. Finally, Robert W. Baird downgraded shares of Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $25.00 in a report on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.25.

Insider Transactions at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 46,500 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $21.77, for a total value of $1,012,305.00. Following the completion of the sale, the director now directly owns 823,506 shares in the company, valued at approximately $17,927,725.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Steven P. Grimes sold 32,054 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $22.22, for a total value of $712,239.88. Following the completion of the transaction, the director now owns 791,452 shares of the company’s stock, valued at approximately $17,586,063.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven P. Grimes sold 46,500 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $21.77, for a total transaction of $1,012,305.00. Following the completion of the transaction, the director now directly owns 823,506 shares of the company’s stock, valued at approximately $17,927,725.62. The disclosure for this sale can be found here. Insiders sold 91,500 shares of company stock worth $2,013,888 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Accurate Wealth Management LLC bought a new position in shares of Kite Realty Group Trust in the 4th quarter valued at about $27,000. Coston McIsaac & Partners bought a new position in shares of Kite Realty Group Trust in the 3rd quarter valued at about $26,000. CENTRAL TRUST Co lifted its holdings in shares of Kite Realty Group Trust by 91.4% in the 3rd quarter. CENTRAL TRUST Co now owns 1,675 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 800 shares during the last quarter. Covestor Ltd raised its position in Kite Realty Group Trust by 7,854.2% in the 1st quarter. Covestor Ltd now owns 1,909 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 1,885 shares during the period. Finally, Wipfli Financial Advisors LLC purchased a new stake in Kite Realty Group Trust in the 3rd quarter worth about $58,000. Institutional investors own 96.84% of the company’s stock.

About Kite Realty Group Trust

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Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.