Kite Realty Group Trust (NYSE:KRG) Short Interest Down 15.2% in March

Kite Realty Group Trust (NYSE:KRG) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 5,680,000 shares, a drop of 15.2% from the March 15th total of 6,700,000 shares. Based on an average daily trading volume, of 2,090,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.6% of the company’s stock are sold short.

Kite Realty Group Trust Trading Up 1.5 %

KRG stock opened at $21.36 on Monday. Kite Realty Group Trust has a one year low of $18.52 and a one year high of $28.24. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 1,067.80, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The company has a fifty day moving average price of $21.90 and a two-hundred day moving average price of $24.19. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.

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

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is currently 5,400.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KRG. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Raymond James decreased 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 report on Monday, March 10th. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company dropped their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

Hedge Funds Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new stake in Kite Realty Group Trust in the 1st quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in Kite Realty Group Trust during the 3rd quarter worth $39,000. Versant Capital Management Inc raised 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 acquiring an additional 2,080 shares in the last quarter. Optiver Holding B.V. lifted its position in shares of Kite Realty Group Trust by 19.9% during 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 acquiring an additional 467 shares during the period. Finally, CX Institutional bought a new position in shares of Kite Realty Group Trust in the first quarter worth $79,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.